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. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons. Its fleet consisted of 12 Panamax class vessels, 7 Kamsarmax class vessels, 15 post- Panamax class vessels, and 6 Capesize class vessels. Safe Bulkers, Inc. was incorporated in 2007 and is based in Monaco.
Safe Bulkers Stock Performance
SB Stock traded up $0.05 during midday trading on Friday, reaching $3.69. 580,449 shares of the company's stock traded hands, compared to its average volume of 807,810. The stock's 50-day moving average is $3.93 and its 200 day moving average is $4.12. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.57. The stock has a market cap of $448.85 million, a P/E ratio of 2.26 and a beta of 0.76. Safe Bulkers has a 52-week low of $3.02 and a 52-week high of $5.44.
Safe Bulkers (NYSE:SB - Get Rating) last posted its quarterly earnings results on Wednesday, May 25th. The shipping company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $73.41 million during the quarter, compared to analysts' expectations of $73.59 million. Safe Bulkers had a return on equity of 27.13% and a net margin of 58.51%. During the same period in the prior year, the business earned $0.14 EPS. As a group, analysts anticipate that Safe Bulkers will post 1.36 EPS for the current year.
Safe Bulkers Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 22nd will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Friday, August 19th. Safe Bulkers's dividend payout ratio is presently 12.27%.
Analyst Ratings Changes
Separately, Jefferies Financial Group began coverage on Safe Bulkers in a research note on Wednesday, July 20th. They set a "buy" rating and a $5.00 price objective on the stock.