Safe Bulkers (NYSE:SB – Get Free Report) posted its quarterly earnings results on Monday. The shipping company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03, Zacks reports. The company had revenue of $91.03 million for the quarter, compared to analysts’ expectations of $85.90 million. Safe Bulkers had a return on equity of 9.63% and a net margin of 28.29%.
Safe Bulkers Stock Performance
NYSE:SB traded up $0.07 during trading hours on Monday, reaching $7.18. 869,654 shares of the company’s stock were exchanged, compared to its average volume of 859,371. The firm has a market capitalization of $731.67 million, a price-to-earnings ratio of 9.21 and a beta of 1.09. The company has a 50-day moving average of $8.34 and a 200 day moving average of $7.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. Safe Bulkers has a 1-year low of $4.66 and a 1-year high of $9.31.
Analyst Ratings Changes
Separately, Wall Street Zen lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Safe Bulkers presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.
Read Our Latest Report on Safe Bulkers
About Safe Bulkers
Safe Bulkers, Inc (NYSE: SB) is a marine transportation company that owns and operates dry bulk vessels. Its fleet transports major and minor bulk commodities, including iron ore, coal, grain, and other raw materials used in global industrial and agricultural supply chains.
The company operates a range of dry bulk vessel classes, including Panamax, Kamsarmax, Ultramax, Supramax, Handysize, and Capesize ships. Safe Bulkers provides transportation services to commodity producers, traders, and other commercial customers through international shipping routes.
Safe Bulkers was founded in 2007 and is incorporated in the Marshall Islands, with its principal executive office in Monaco.
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