Safe Bulkers (NYSE:SB) Posts Earnings Results

Safe Bulkers (NYSE:SB) announced its earnings results on Monday. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01), Yahoo Finance reports. The business had revenue of $81.67 million for the quarter. Safe Bulkers had a net margin of 27.20% and a return on equity of 9.05%. During the same quarter last year, the company earned $0.10 EPS.

Safe Bulkers Stock Performance

Shares of NYSE:SB opened at $5.17 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. Safe Bulkers has a 12 month low of $2.97 and a 12 month high of $5.24. The company has a market capitalization of $577.02 million, a price-to-earnings ratio of 8.30 and a beta of 1.02. The firm’s 50-day moving average is $4.83 and its 200 day moving average is $4.14.

Safe Bulkers Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, February 29th. This represents a $0.20 annualized dividend and a dividend yield of 3.87%. Safe Bulkers’s dividend payout ratio (DPR) is presently 32.26%.

Wall Street Analysts Forecast Growth

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