Safe Bulkers (NYSE:SB) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Safe Bulkers (NYSE:SB – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage issued a hold rating on the shipping company’s stock. Jefferies Financial Group also issued estimates for Safe Bulkers’ Q1 2022 earnings at $0.28 EPS, Q2 2022 earnings at $0.34 EPS, FY2022 earnings at $1.33 EPS and FY2023 earnings at $1.61 EPS.

SB has been the topic of several other reports. StockNews.com started coverage on Safe Bulkers in a research report on Thursday, March 31st. They issued a buy rating on the stock. Zacks Investment Research raised Safe Bulkers from a hold rating to a buy rating and set a $5.25 target price on the stock in a research report on Tuesday, March 29th.

Safe Bulkers stock opened at $4.11 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.30. Safe Bulkers has a one year low of $2.98 and a one year high of $5.44. The stock has a market capitalization of $499.94 million, a PE ratio of 2.94 and a beta of 0.65. The business’s fifty day moving average is $4.37 and its 200 day moving average is $4.04.

Safe Bulkers (NYSE:SB – Get Rating) last released its quarterly earnings data on Wednesday, March 9th. The shipping company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Safe Bulkers had a net margin of 52.99% and a return on equity of 26.49%. The business had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $91.15 million. During the same period last year, the business earned $0.04 earnings per share. As a group, sell-side analysts expect that Safe Bulkers will post 1.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Monday, March 21st were given a dividend of $0.05 per share. This is a boost from Safe Bulkers’s previous quarterly dividend of $0.01. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Friday, March 18th. Safe Bulkers’s payout ratio is presently 3.57%.

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of Safe Bulkers by 176.5% during the 3rd quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock valued at $37,000 after buying an additional 4,608 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Safe Bulkers by 1,559.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 9,741 shares of the shipping company’s stock valued at $37,000 after buying an additional 9,154 shares in the last quarter. Salvus Wealth Management LLC purchased a new position in shares of Safe Bulkers during the 4th quarter valued at about $50,000. ProShare Advisors LLC purchased a new position in shares of Safe Bulkers during the 4th quarter valued at about $52,000. Finally, Toroso Investments LLC lifted its position in shares of Safe Bulkers by 24.6% during the 4th quarter. Toroso Investments LLC now owns 16,828 shares of the shipping company’s stock valued at $63,000 after buying an additional 3,319 shares in the last quarter. 30.62% of the stock is currently owned by hedge funds and other institutional investors.

Safe Bulkers Company Profile (Get Rating)

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. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

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