Safe Bulkers (NYSE:SB) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Safe Bulkers (NYSE:SB) released its quarterly earnings results on Monday. The shipping company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01), Yahoo Finance reports. Safe Bulkers had a net margin of 27.20% and a return on equity of 9.05%. During the same period in the previous year, the company posted $0.10 EPS.

Safe Bulkers Price Performance

Shares of Safe Bulkers stock opened at $5.15 on Tuesday. The company’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $4.14. Safe Bulkers has a 12-month low of $2.97 and a 12-month high of $5.24. The firm has a market cap of $574.23 million, a PE ratio of 8.30 and a beta of 1.02. The company has a quick ratio of 2.33, a current ratio of 2.63 and a debt-to-equity ratio of 0.61.

Safe Bulkers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 1st were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.20 dividend on an annualized basis and a yield of 3.89%. Safe Bulkers’s dividend payout ratio is currently 32.26%.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.00 to $6.00 in a research note on Tuesday, February 27th.

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.