Safe Bulkers, Inc. (NYSE:SB - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.24 and last traded at $5.15, with a volume of 556488 shares. The stock had previously closed at $5.06.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group raised shares of Safe Bulkers from a "hold" rating to a "buy" rating and upped their target price for the stock from $4.00 to $6.00 in a research note on Tuesday, February 27th.
Get Our Latest Stock Analysis on SB
Safe Bulkers Price Performance
The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.63. The stock has a market capitalization of $574.23 million, a PE ratio of 8.30 and a beta of 1.02. The stock's 50-day moving average is $4.83 and its 200 day moving average is $4.14.
Safe Bulkers (NYSE:SB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The shipping company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.10. Safe Bulkers had a return on equity of 9.05% and a net margin of 27.20%. The company had revenue of $82.29 million during the quarter, compared to analysts' expectations of $72.70 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, equities analysts expect that Safe Bulkers, Inc. will post 0.85 earnings per share for the current year.
Safe Bulkers Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, February 29th. Safe Bulkers's dividend payout ratio (DPR) is presently 32.26%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in Safe Bulkers by 8.7% in the third quarter. Exchange Traded Concepts LLC now owns 122,158 shares of the shipping company's stock valued at $396,000 after acquiring an additional 9,826 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Safe Bulkers during the 4th quarter valued at approximately $85,000. Welch Group LLC boosted its stake in shares of Safe Bulkers by 30.0% during the 4th quarter. Welch Group LLC now owns 13,000 shares of the shipping company's stock worth $51,000 after acquiring an additional 3,000 shares in the last quarter. Principal Financial Group Inc. increased its stake in Safe Bulkers by 47.8% in the 3rd quarter. Principal Financial Group Inc. now owns 43,320 shares of the shipping company's stock valued at $140,000 after purchasing an additional 14,001 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Safe Bulkers during the third quarter worth $41,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.
Safe Bulkers Company Profile
(
Get Free Report)
Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.
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