Safe Bulkers (NYSE:SB) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Safe Bulkers, Inc (NYSE:SB)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.08 and traded as high as $6.12. Safe Bulkers shares last traded at $6.0750, with a volume of 612,632 shares trading hands.

Analysts Set New Price Targets

SB has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Safe Bulkers in a research report on Monday, December 29th. Jefferies Financial Group raised their price objective on shares of Safe Bulkers from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Safe Bulkers presently has a consensus rating of “Hold” and an average target price of $6.00.

Safe Bulkers Trading Up 2.3%

The stock has a fifty day moving average of $5.79 and a 200 day moving average of $5.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.63 and a current ratio of 2.90. The company has a market capitalization of $621.23 million, a P/E ratio of 20.25 and a beta of 1.03.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Friday, February 13th. The shipping company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. Safe Bulkers had a return on equity of 4.91% and a net margin of 13.99%.The business had revenue of $72.57 million during the quarter, compared to analysts’ expectations of $70.00 million. As a group, equities research analysts anticipate that Safe Bulkers, Inc will post 0.62 EPS for the current fiscal year.

Safe Bulkers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 3.3%. Safe Bulkers’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds have recently modified their holdings of the company. Fearnley Asset Management AS bought a new stake in shares of Safe Bulkers during the 4th quarter valued at $5,112,000. Aristides Capital LLC purchased a new stake in Safe Bulkers in the 4th quarter worth $161,000. Mercer Global Advisors Inc. ADV purchased a new stake in Safe Bulkers in the 4th quarter worth $48,000. Mackenzie Financial Corp bought a new stake in Safe Bulkers during the fourth quarter valued at about $59,000. Finally, Empowered Funds LLC raised its holdings in Safe Bulkers by 6.0% during the fourth quarter. Empowered Funds LLC now owns 645,834 shares of the shipping company’s stock valued at $3,113,000 after acquiring an additional 36,356 shares during the period. 21.69% of the stock is currently owned by institutional investors.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.