Safe Bulkers (NYSE:SB) Shares Gap Down to $5.86

Safe Bulkers, Inc. (NYSE:SBGet Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $5.86, but opened at $5.72. Safe Bulkers shares last traded at $5.74, with a volume of 144,641 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.

Read Our Latest Stock Analysis on SB

Safe Bulkers Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.55 and a quick ratio of 2.55. The business’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $4.89. The firm has a market cap of $609.60 million, a price-to-earnings ratio of 8.62 and a beta of 0.92.

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

Safe Bulkers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, May 16th. Safe Bulkers’s dividend payout ratio is currently 29.41%.

Institutional Investors Weigh In On Safe Bulkers

Institutional investors and hedge funds have recently made changes to their positions in the company. Regatta Capital Group LLC acquired a new position in Safe Bulkers in the fourth quarter valued at approximately $53,000. Welch Group LLC boosted its position in Safe Bulkers by 30.0% during the 4th quarter. Welch Group LLC now owns 13,000 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 3,000 shares during the period. Bleakley Financial Group LLC bought a new position in Safe Bulkers during the 4th quarter worth $85,000. Simplicity Solutions LLC acquired a new stake in Safe Bulkers in the fourth quarter worth $85,000. Finally, Los Angeles Capital Management LLC lifted its stake in Safe Bulkers by 18.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 281,172 shares of the shipping company’s stock valued at $1,105,000 after buying an additional 43,070 shares during the last quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

(Get Free Report)

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.

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