Safe Bulkers (NYSE:SB) Issues Earnings Results

Safe Bulkers (NYSE:SB) announced its quarterly earnings data on Monday. The shipping company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03, Zacks reports. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.63%. The firm had revenue of $91.03 million during the quarter, compared to the consensus estimate of $85.90 million.

Safe Bulkers Stock Up 1.1%

SB stock opened at $7.18 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $731.65 million, a price-to-earnings ratio of 9.21 and a beta of 1.09. The company has a 50-day moving average of $8.31 and a two-hundred day moving average of $7.12. Safe Bulkers has a 52-week low of $4.66 and a 52-week high of $9.31.

Safe Bulkers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Wednesday, November 25th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Wednesday, November 25th. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.0750. Safe Bulkers’s dividend payout ratio (DPR) is 38.46%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.00.

About Safe Bulkers

Safe Bulkers, Inc (NYSE: SB) is a marine transportation company that owns and operates dry bulk vessels. Its fleet transports major and minor bulk commodities, including iron ore, coal, grain, and other raw materials used in global industrial and agricultural supply chains.

The company operates a range of dry bulk vessel classes, including Panamax, Kamsarmax, Ultramax, Supramax, Handysize, and Capesize ships. Safe Bulkers provides transportation services to commodity producers, traders, and other commercial customers through international shipping routes.

Safe Bulkers was founded in 2007 and is incorporated in the Marshall Islands, with its principal executive office in Monaco.