Safe Bulkers (NYSE:SB) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Safe Bulkers (NYSE:SB) announced its quarterly earnings results on Monday. The shipping company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03, Zacks reports. The firm had revenue of $91.03 million for the quarter, compared to analyst estimates of $85.90 million. Safe Bulkers had a return on equity of 11.94% and a net margin of 33.24%.

Safe Bulkers Stock Performance

Shares of NYSE SB traded up $0.38 during midday trading on Wednesday, reaching $7.96. 402,284 shares of the stock were exchanged, compared to its average volume of 858,123. Safe Bulkers has a twelve month low of $4.66 and a twelve month high of $9.31. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $7.13. The firm has a market cap of $810.26 million, a price-to-earnings ratio of 8.11 and a beta of 1.09.

Safe Bulkers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Wednesday, November 25th will be given a $0.09 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.36 annualized dividend and a yield of 4.5%. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.0750. Safe Bulkers’s payout ratio is currently 38.46%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Safe Bulkers Company Profile

Safe Bulkers, Inc. is an international dry-bulk shipping company that owns and operates vessels used to transport commodities by sea. Its fleet serves customers involved in the production and trade of bulk goods. The company’s vessels carry cargoes such as iron ore, coal and grain on routes around the world. Safe Bulkers was established in 2005 and has focused on providing seaborne transportation for these essential commodities. Safe Bulkers is headquartered in Athens, Greece, and its shares trade on the New York Stock Exchange under the symbol SB.