Safe Bulkers (NYSE:SB) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Safe Bulkers, Inc (NYSE:SB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.15 and traded as high as $6.75. Safe Bulkers shares last traded at $6.7250, with a volume of 900,670 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Safe Bulkers from a “buy” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.00.

Safe Bulkers Trading Up 0.7%

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.46. The firm has a market cap of $687.70 million, a price-to-earnings ratio of 14.94 and a beta of 0.84. The company has a 50-day moving average price of $6.72 and a 200 day moving average price of $6.15.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Thursday, June 18th. The shipping company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.08. Safe Bulkers had a return on equity of 6.45% and a net margin of 18.73%.The firm had revenue of $74.39 million for the quarter, compared to analyst estimates of $65.50 million.

Safe Bulkers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, June 30th. Safe Bulkers’s payout ratio is currently 53.33%.

Institutional Investors Weigh In On Safe Bulkers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in Safe Bulkers by 67.0% during the first quarter. AQR Capital Management LLC now owns 68,052 shares of the shipping company’s stock valued at $251,000 after acquiring an additional 27,292 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Safe Bulkers by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company’s stock worth $6,017,000 after acquiring an additional 91,662 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Safe Bulkers by 5.4% during the 1st quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company’s stock worth $2,126,000 after purchasing an additional 29,667 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Safe Bulkers by 3.7% during the 1st quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 4,836 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Safe Bulkers during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Safe Bulkers Company Profile

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.