Safe Bulkers (NYSE:SB) Share Price Passes Above 200-Day Moving Average – Time to Sell?
by Renee Jackson · The Cerbat GemSafe Bulkers, Inc (NYSE:SB – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.36 and traded as high as $6.58. Safe Bulkers shares last traded at $6.5150, with a volume of 387,874 shares.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Safe Bulkers in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.
View Our Latest Stock Report on SB
Safe Bulkers Stock Performance
The stock has a market capitalization of $679.52 million, a PE ratio of 22.15 and a beta of 1.08. The business has a 50 day moving average price of $6.28 and a 200 day moving average price of $5.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.63.
Safe Bulkers (NYSE:SB – Get Free Report) last released its earnings results on Saturday, February 14th. 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 firm had revenue of $72.57 million for the quarter, compared to analysts’ expectations of $70.00 million. As a group, equities research analysts expect that Safe Bulkers, Inc will post 0.62 earnings per share for the current year.
Safe Bulkers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 2nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.20 annualized dividend and a dividend yield of 3.0%. Safe Bulkers’s dividend payout ratio (DPR) is 66.67%.
Institutional Investors Weigh In On Safe Bulkers
Several institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Safe Bulkers by 30.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock valued at $12,778,000 after buying an additional 617,711 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Safe Bulkers by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock valued at $4,739,000 after buying an additional 62,931 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Safe Bulkers by 3.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,187,934 shares of the shipping company’s stock valued at $5,726,000 after buying an additional 36,356 shares during the last quarter. Fearnley Asset Management AS purchased a new stake in shares of Safe Bulkers during the fourth quarter valued at $5,112,000. Finally, Denali Advisors LLC boosted its position in shares of Safe Bulkers by 2.7% during the third quarter. Denali Advisors LLC now owns 955,469 shares of the shipping company’s stock valued at $4,242,000 after buying an additional 25,388 shares during the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.
About Safe Bulkers
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.