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

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

Safe Bulkers Stock Up 1.4 %

Shares of SB traded up $0.07 on Friday, reaching $5.19. The stock had a trading volume of 433,094 shares, compared to its average volume of 821,355. 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 has a 12-month low of $2.97 and a 12-month high of $5.24. The firm has a market capitalization of $579.26 million, a price-to-earnings ratio of 7.53 and a beta of 0.99. The company has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $4.17.

Safe Bulkers Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.85%. Safe Bulkers’s dividend payout ratio (DPR) is 29.41%.

Analysts Set New Price Targets

SB has been the subject of a number of recent research reports. StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Financial Group raised Safe Bulkers from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.00 to $6.00 in a research note on Tuesday, February 27th.

About Safe Bulkers

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.