Safe Bulkers Short Interest Up 105.3% in July (SB)
Shares of Safe Bulkers (NYSE:SB) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,033,354 shares, a growth of 105.3% from the June 30th total of 990,395 shares, AnalystRatingsNetwork reports. Based on an average daily trading volume, of 336,983 shares, the short-interest ratio is presently 6.0 days. Approximately 5.9% of the company’s stock are short sold.
A number of analysts have recently weighed in on SB shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Safe Bulkers in a research note on Thursday, July 31st. They now have a $10.00 price target on the stock, down previously from $11.00. Separately, analysts at Evercore Partners cut their price target on shares of Safe Bulkers from $11.00 to $10.00 in a research note on Wednesday, July 23rd. Finally, analysts at Canaccord Genuity initiated coverage on shares of Safe Bulkers in a research note on Tuesday, June 10th. They set a “buy” rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $10.14.
Shares of Safe Bulkers (NYSE:SB) opened at 7.08 on Tuesday. Safe Bulkers has a 1-year low of $4.78 and a 1-year high of $11.48. The stock’s 50-day moving average is $8.80 and its 200-day moving average is $9.08. The company has a market cap of $590.8 million and a price-to-earnings ratio of 11.10.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.07. The company had revenue of $37.20 million for the quarter, compared to the consensus estimate of $38.31 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, analysts predict that Safe Bulkers will post $0.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Tuesday, August 19th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, August 15th.
Safe Bulkers, Inc (NYSE:SB) is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes.
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