Safe Bulkers (NYSE:SB) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Safe Bulkers, Inc. shares crossed above their 200-day moving average of $3.94, reaching a high of $4.41 during trading on Thursday.
• The company reported a quarterly dividend of $0.05 per share, equating to an annualized yield of 4.6%, with a payout ratio of 46.51%.
• Equities research analysts maintain a consensus rating of "Moderate Buy" with a price target of $4.47, as recent reports from Weiss Ratings and Zacks upgraded the stock's rating.

Safe Bulkers, Inc (NYSE:SB - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.94 and traded as high as $4.41. Safe Bulkers shares last traded at $4.31, with a volume of 280,796 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Zacks Research upgraded Safe Bulkers from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $4.47.

Safe Bulkers Stock Up 0.2%

The business has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $3.94. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $441.00 million, a P/E ratio of 10.02 and a beta of 1.28.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $60.40 million. Safe Bulkers had a net margin of 19.25% and a return on equity of 5.80%. Equities research analysts forecast that Safe Bulkers, Inc will post 0.62 earnings per share for the current fiscal year.

Safe Bulkers Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 4.6%. Safe Bulkers's payout ratio is currently 46.51%.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming raised its stake in shares of Safe Bulkers by 35.0% in the second quarter. State of Wyoming now owns 61,638 shares of the shipping company's stock worth $223,000 after acquiring an additional 15,983 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of Safe Bulkers in the second quarter valued at approximately $46,000. Tower Research Capital LLC TRC raised its position in Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company's stock worth $40,000 after purchasing an additional 4,692 shares during the last quarter. Tidal Investments LLC lifted its holdings in Safe Bulkers by 5.9% during the 2nd quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company's stock worth $156,000 after buying an additional 2,423 shares in the last quarter. Finally, Manatuck Hill Partners LLC boosted its position in Safe Bulkers by 47.0% in the 2nd quarter. Manatuck Hill Partners LLC now owns 225,000 shares of the shipping company's stock valued at $812,000 after buying an additional 71,900 shares during the last quarter. Institutional investors and hedge funds 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.

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