Safe Bulkers (NYSE:SB) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Safe Bulkers (NYSE:SB) saw its share price surpass the 200-day moving average of $3.86, trading as high as $4.64, with the latest price being $4.57.
• The company reported earnings per share of $0.01 for the last quarter, missing estimates, but achieved a revenue of $65.75 million, exceeding expectations.
• Safe Bulkers declared a quarterly dividend of $0.05, leading to an annualized dividend of $0.20 and a yield of 4.4%.

Safe Bulkers, Inc (NYSE:SB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.86 and traded as high as $4.64. Safe Bulkers shares last traded at $4.57, with a volume of 271,834 shares changing hands.

Safe Bulkers Trading Up 1.9%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70. The stock's fifty day moving average is $4.28 and its 200 day moving average is $3.86. The stock has a market cap of $467.09 million, a P/E ratio of 10.62 and a beta of 1.30.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.07). The firm had revenue of $65.75 million during the quarter, compared to the consensus estimate of $60.40 million. Safe Bulkers had a return on equity of 5.80% and a net margin of 19.25%. As a group, equities research analysts predict that Safe Bulkers, Inc will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Thursday, August 21st were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.20 annualized dividend and a yield of 4.4%. Safe Bulkers's dividend payout ratio (DPR) is presently 46.51%.

Institutional Trading of Safe Bulkers

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in Safe Bulkers by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock worth $6,017,000 after purchasing an additional 91,662 shares during the last quarter. American Century Companies Inc. increased its position in shares of Safe Bulkers by 16.6% during the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company's stock worth $5,202,000 after acquiring an additional 204,874 shares during the period. Ameriprise Financial Inc. increased its position in shares of Safe Bulkers by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company's stock worth $4,739,000 after acquiring an additional 62,931 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Safe Bulkers by 5.1% during the second quarter. Bridgeway Capital Management LLC now owns 1,175,338 shares of the shipping company's stock worth $4,243,000 after acquiring an additional 57,009 shares during the period. Finally, Denali Advisors LLC increased its position in shares of Safe Bulkers by 6.9% during the second quarter. Denali Advisors LLC now owns 930,081 shares of the shipping company's stock worth $3,358,000 after acquiring an additional 59,666 shares during the period. Institutional investors own 21.69% of the company's stock.

Safe Bulkers Company Profile

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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