Safe Bulkers (NYSE:SB) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Safe Bulkers (NYSE:SB) released its quarterly earnings results on Tuesday. The shipping company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06, FiscalAI reports. The company had revenue of $87.47 million for the quarter, compared to the consensus estimate of $77.50 million. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.73%.

Safe Bulkers Price Performance

Shares of NYSE SB traded up $0.29 during trading on Thursday, hitting $7.87. The company had a trading volume of 384,717 shares, compared to its average volume of 719,821. The company has a market cap of $804.79 million, a P/E ratio of 10.11 and a beta of 0.84. Safe Bulkers has a 52 week low of $3.86 and a 52 week high of $8.05. The business’s 50-day moving average is $6.80 and its 200 day moving average is $6.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.37 and a current ratio of 1.37.

Safe Bulkers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Thursday, August 13th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 3.8%. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, August 13th. Safe Bulkers’s dividend payout ratio (DPR) is presently 53.33%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Safe Bulkers from a “buy” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.00.

Institutional Investors Weigh In On Safe Bulkers

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in shares of Safe Bulkers by 73.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 4,692 shares during the period. Cetera Investment Advisers acquired a new stake in Safe Bulkers during the 2nd quarter worth about $41,000. Evergreen Capital Management LLC acquired a new stake in Safe Bulkers during the 2nd quarter worth about $46,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Safe Bulkers in the third quarter worth approximately $46,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Safe Bulkers in the fourth quarter worth $48,000. 21.69% of the stock is owned by institutional investors.

Safe Bulkers Company Profile

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.