Safe Bulkers (NYSE:SB) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Safe Bulkers, Inc (NYSE:SB - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.60 and traded as high as $3.70. Safe Bulkers shares last traded at $3.64, with a volume of 385,417 shares traded.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a "buy" rating and set a $5.00 target price on shares of Safe Bulkers in a report on Tuesday, May 20th.

Safe Bulkers Stock Performance

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $3.60. The company has a market capitalization of $392.77 million, a price-to-earnings ratio of 5.57 and a beta of 1.17.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $64.35 million during the quarter, compared to the consensus estimate of $57.92 million. Safe Bulkers had a net margin of 27.32% and a return on equity of 7.93%. As a group, analysts anticipate that Safe Bulkers, Inc will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Friday, June 6th. Safe Bulkers's dividend payout ratio (DPR) is 29.85%.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds have recently made changes to their positions in SB. Renaissance Technologies LLC increased its position in Safe Bulkers by 1.0% in the 4th quarter. Renaissance Technologies LLC now owns 3,306,479 shares of the shipping company's stock valued at $11,804,000 after acquiring an additional 32,293 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Safe Bulkers by 16.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,796,424 shares of the shipping company's stock valued at $6,413,000 after purchasing an additional 257,136 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Safe Bulkers by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock valued at $6,017,000 after purchasing an additional 91,662 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Safe Bulkers by 2.7% during the first quarter. Bridgeway Capital Management LLC now owns 1,118,329 shares of the shipping company's stock valued at $4,127,000 after purchasing an additional 29,667 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in Safe Bulkers by 25.8% in the first quarter. Denali Advisors LLC now owns 870,415 shares of the shipping company's stock worth $3,212,000 after purchasing an additional 178,646 shares during the period. Institutional investors own 21.69% of the company's stock.

About Safe Bulkers

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.