Safe Bulkers (NYSE:SB) Sets New 1-Year High at $5.28

Shares of Safe Bulkers, Inc. (NYSE:SB) reached a new 52-week high during trading on Tuesday . The company traded as high as $5.28 and last traded at $5.28, with a volume of 112608 shares trading hands. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SB shares. StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and raised their price target for the company from $4.00 to $6.00 in a research note on Tuesday, February 27th.

Safe Bulkers Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $621.67 million, a P/E ratio of 8.19 and a beta of 0.99. The firm has a 50 day simple moving average of $4.96 and a two-hundred day simple moving average of $4.24.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Tuesday, April 30th. The shipping company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $81.67 million during the quarter. Safe Bulkers had a net margin of 27.85% and a return on equity of 10.29%. During the same period last year, the business posted $0.10 EPS. Equities research analysts forecast that Safe Bulkers, Inc. will post 0.86 earnings per share for the current year.

Safe Bulkers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Friday, May 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 16th. Safe Bulkers’s dividend payout ratio is currently 29.41%.

Hedge Funds Weigh In On Safe Bulkers

Several large investors have recently modified their holdings of SB. Russell Investments Group Ltd. grew its holdings in Safe Bulkers by 3,273.7% during the 1st quarter. Russell Investments Group Ltd. now owns 165,345 shares of the shipping company’s stock valued at $821,000 after buying an additional 160,444 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Safe Bulkers during the 1st quarter worth approximately $442,000. Empowered Funds LLC lifted its stake in Safe Bulkers by 8.2% in the 1st quarter. Empowered Funds LLC now owns 458,109 shares of the shipping company’s stock worth $2,272,000 after purchasing an additional 34,640 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Safe Bulkers by 12.7% in the 1st quarter. BNP Paribas Financial Markets now owns 65,898 shares of the shipping company’s stock worth $327,000 after purchasing an additional 7,409 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in shares of Safe Bulkers during the 1st quarter valued at $272,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.