Safe Bulkers (NYSE:SB) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical breakout: Safe Bulkers' stock crossed above its 200-day moving average of $5.36 on Wednesday, trading as high as $6.58 and last at $6.5150 on volume of 387,874 shares.
• Analyst view and recent results: The consensus rating is "Hold" with a $6.00 target (Weiss Ratings reissued a "hold (c+)"); the company reported $0.14 EPS (in line with estimates) and revenue of $72.57 million, slightly above expectations.
• Income and ownership: Safe Bulkers pays a quarterly $0.05 dividend (annualized $0.20, yield 3.1%) and has seen recent stake increases from institutional investors including Goldman Sachs and AQR, with institutions holding about 21.69% of the stock.

Safe Bulkers, Inc (NYSE:SB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.36 and traded as high as $6.58. Safe Bulkers shares last traded at $6.5150, with a volume of 387,874 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Safe Bulkers in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Safe Bulkers presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Safe Bulkers Trading Up 0.5%

The firm's 50 day simple moving average is $6.23 and its 200-day simple moving average is $5.36. The company has a market capitalization of $666.22 million, a PE ratio of 21.72 and a beta of 1.08. The company has a quick ratio of 2.63, a current ratio of 2.90 and a debt-to-equity ratio of 0.60.

Safe Bulkers (NYSE:SB - Get Free Report) last issued its earnings results on Saturday, February 14th. The shipping company reported $0.14 EPS for the quarter, meeting analysts' consensus estimates of $0.14. Safe Bulkers had a net margin of 13.99% and a return on equity of 4.91%. The business had revenue of $72.57 million for the quarter, compared to the consensus estimate of $70.00 million. As a group, equities research analysts anticipate that Safe Bulkers, Inc will post 0.62 EPS for the current year.

Safe Bulkers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.20 annualized dividend and a yield of 3.1%. Safe Bulkers's dividend payout ratio (DPR) is 66.67%.

Institutional Investors Weigh In On Safe Bulkers

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in shares of Safe Bulkers by 67.0% in the first quarter. AQR Capital Management LLC now owns 68,052 shares of the shipping company's stock valued at $251,000 after buying an additional 27,292 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Safe Bulkers by 6.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock valued at $6,017,000 after buying an additional 91,662 shares during the period. Empowered Funds LLC lifted its position in Safe Bulkers by 5.4% during the 1st quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company's stock worth $2,126,000 after acquiring an additional 29,667 shares in the last quarter. Jane Street Group LLC lifted its position in Safe Bulkers by 3.7% during the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company's stock worth $501,000 after acquiring an additional 4,836 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in Safe Bulkers in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 21.69% of the company's stock.

About Safe Bulkers

Safe Bulkers Inc NYSE: SB is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.

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