Safe Bulkers (NYSE:SB) Price Target Raised to $6.00

Safe Bulkers (NYSE:SB) had its target price lifted by Jefferies Financial Group from $5.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the shipping company’s stock.

Several other equities research analysts have also commented on SB. Zacks Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.80.

Safe Bulkers Stock Performance

SB opened at $5.33 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Safe Bulkers has a 12-month low of $3.02 and a 12-month high of $5.54. The firm has a 50 day moving average of $4.62 and a two-hundred day moving average of $4.23. The firm has a market capitalization of $545.37 million, a PE ratio of 12.40 and a beta of 1.23.

Safe Bulkers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Monday, December 8th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, December 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.8%. Safe Bulkers’s dividend payout ratio (DPR) is 46.51%.

Hedge Funds Weigh In On Safe Bulkers

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Safe Bulkers by 16.6% in the second quarter. American Century Companies Inc. now owns 1,441,089 shares of the shipping company’s stock valued at $5,202,000 after purchasing an additional 204,874 shares during the period. Koss Olinger Consulting LLC lifted its position in shares of Safe Bulkers by 548.6% during the 1st quarter. Koss Olinger Consulting LLC now owns 179,664 shares of the shipping company’s stock valued at $663,000 after buying an additional 151,964 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Safe Bulkers in the 3rd quarter valued at $629,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Safe Bulkers in the 3rd quarter worth $522,000. Finally, Janney Montgomery Scott LLC acquired a new position in Safe Bulkers during the second quarter worth $381,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

About Safe Bulkers

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.