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

Safe Bulkers (NYSE:SB) issued its quarterly 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 business had revenue of $81.67 million for the quarter. During the same period in the prior year, the company posted $0.10 EPS.

Safe Bulkers Stock Performance

Shares of SB opened at $5.05 on Thursday. The company has a 50-day simple moving average of $4.86 and a 200-day simple moving average of $4.16. The company has a quick ratio of 2.33, a current ratio of 2.55 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $563.63 million, a PE ratio of 7.43 and a beta of 0.99. Safe Bulkers has a 52-week low of $2.97 and a 52-week high of $5.24.

Safe Bulkers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Friday, May 17th will be issued a $0.05 dividend. 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 3.96%. Safe Bulkers’s dividend payout ratio is presently 29.41%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and increased their price target for the company from $4.00 to $6.00 in a report 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.