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

Safe Bulkers (NYSE:SB) posted its quarterly earnings data on Tuesday. The shipping company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01), Yahoo Finance reports. The firm had revenue of $81.67 million during the quarter. Safe Bulkers had a net margin of 27.85% and a return on equity of 10.29%. During the same period in the prior year, the firm earned $0.10 earnings per share.

Safe Bulkers Stock Performance

Shares of NYSE:SB traded up $0.07 on Friday, hitting $5.19. The company’s stock had a trading volume of 433,094 shares, compared to its average volume of 821,355. Safe Bulkers has a 12 month low of $2.97 and a 12 month high of $5.24. The company has a market capitalization of $579.26 million, a price-to-earnings ratio of 7.53 and a beta of 0.99. The stock’s 50-day moving average is $4.88 and its two-hundred day moving average is $4.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.33 and a current ratio of 2.55.

Safe Bulkers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Friday, May 17th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.20 annualized dividend and a dividend yield of 3.85%. Safe Bulkers’s dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

SB has been the subject of several analyst reports. StockNews.com raised shares of Safe Bulkers from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.00 to $6.00 in a research report 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.