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

Safe Bulkers (NYSE:SB) released its quarterly earnings data on Monday. 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 net margin of 27.20% and a return on equity of 9.05%. During the same quarter in the previous year, the business earned $0.10 earnings per share.

Safe Bulkers Trading Up 1.7 %

Safe Bulkers stock opened at $5.15 on Tuesday. The stock has a market cap of $574.23 million, a P/E ratio of 8.30 and a beta of 1.02. Safe Bulkers has a fifty-two week low of $2.97 and a fifty-two week high of $5.24. The firm’s fifty day moving average price is $4.83 and its 200-day moving average price is $4.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.63.

Safe Bulkers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st were issued a $0.05 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.20 annualized dividend and a dividend yield of 3.89%. Safe Bulkers’s payout ratio is currently 32.26%.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and lifted their price objective for the company 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.