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 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01), Yahoo Finance reports. The company had revenue of $81.67 million during the quarter. Safe Bulkers had a return on equity of 10.29% and a net margin of 27.85%. During the same period last year, the business earned $0.10 EPS.

Safe Bulkers Stock Up 1.2 %

SB opened at $5.05 on Thursday. The firm has a 50-day simple moving average of $4.86 and a two-hundred day simple moving average of $4.16. Safe Bulkers has a 52 week low of $2.97 and a 52 week high of $5.24. The company has a market capitalization of $563.63 million, a PE ratio of 7.43 and a beta of 0.99. The company has a quick ratio of 2.33, a current ratio of 2.55 and a debt-to-equity ratio of 0.63.

Safe Bulkers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 16th. Safe Bulkers’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SB shares. StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group upgraded Safe Bulkers from a “hold” rating to a “buy” rating and increased 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.