Safe Bulkers (NYSE:SB) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Safe Bulkers, Inc (NYSE:SB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.16 and traded as high as $6.42. Safe Bulkers shares last traded at $6.3450, with a volume of 1,027,716 shares changing hands.

Wall Street Analysts Forecast Growth

SB has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group raised their target price on shares of Safe Bulkers from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Safe Bulkers Trading Down 1.0%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.63 and a current ratio of 2.90. The business has a fifty day simple moving average of $5.96 and a 200 day simple moving average of $5.17. The stock has a market cap of $635.55 million, a price-to-earnings ratio of 20.72 and a beta of 1.04.

Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Friday, February 13th. The shipping company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $72.57 million during the quarter, compared to analysts’ expectations of $70.00 million. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%. As a group, equities analysts anticipate that Safe Bulkers, Inc will post 0.62 EPS for the current year.

Safe Bulkers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were paid 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 3.2%. Safe Bulkers’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds have recently modified their holdings of SB. Goldman Sachs Group Inc. raised its position in shares of Safe Bulkers by 30.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock valued at $12,778,000 after buying an additional 617,711 shares during the last quarter. American Century Companies Inc. grew its stake in Safe Bulkers by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock worth $5,202,000 after acquiring an additional 204,874 shares during the period. Ameriprise Financial Inc. grew its stake in Safe Bulkers by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock worth $4,739,000 after acquiring an additional 62,931 shares during the period. Bridgeway Capital Management LLC raised its holdings in Safe Bulkers by 3.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,187,934 shares of the shipping company’s stock valued at $5,726,000 after acquiring an additional 36,356 shares during the last quarter. Finally, Fearnley Asset Management AS purchased a new position in shares of Safe Bulkers during the 4th quarter worth $5,112,000. 21.69% of the stock is owned by institutional investors and hedge funds.

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.