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

Safe Bulkers, Inc. (NYSE:SBGet Free Report) shares 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Safe Bulkers from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st.

View Our Latest Analysis on SB

Safe Bulkers Stock Up 0.2 %

The stock has a market capitalization of $603.19 million, a PE ratio of 8.31 and a beta of 0.92. 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 fifty day moving average price is $5.68 and its two-hundred day moving average price is $4.90.

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 analysts’ consensus estimates of $0.21 by ($0.01). Safe Bulkers had a net margin of 27.85% and a return on equity of 10.29%. The company had revenue of $81.67 million for the quarter. During the same quarter in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts forecast that Safe Bulkers, Inc. will post 0.86 EPS for the current fiscal year.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.54%. The ex-dividend date was Thursday, May 16th. Safe Bulkers’s payout ratio is 29.41%.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds have recently added to or reduced their stakes in SB. Pinnacle Wealth Planning Services Inc. purchased a new stake in Safe Bulkers in the fourth quarter valued at $46,000. Welch Group LLC boosted its stake in shares of Safe Bulkers by 30.0% during the 4th quarter. Welch Group LLC now owns 13,000 shares of the shipping company’s stock worth $51,000 after acquiring an additional 3,000 shares in the last quarter. Regatta Capital Group LLC purchased a new stake in shares of Safe Bulkers during the 4th quarter worth about $53,000. Tower Research Capital LLC TRC boosted its stake in shares of Safe Bulkers by 432.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,031 shares of the shipping company’s stock worth $59,000 after acquiring an additional 12,210 shares in the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of Safe Bulkers during the 4th quarter worth about $85,000. 21.69% of the stock is owned by hedge funds and other institutional investors.

About Safe Bulkers

(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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