Brokers Issue Forecasts for Safe Bulkers, Inc.’s Q1 2023 Earnings (NYSE:SB)
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Safe Bulkers, Inc. (NYSE:SB – Get Rating) – Investment analysts at Jefferies Financial Group issued their Q1 2023 EPS estimates for Safe Bulkers in a report issued on Wednesday, February 15th. Jefferies Financial Group analyst O. Nokta anticipates that the shipping company will post earnings of $0.10 per share for the quarter. The consensus estimate for Safe Bulkers’ current full-year earnings is $0.92 per share. Jefferies Financial Group also issued estimates for Safe Bulkers’ Q2 2023 earnings at $0.23 EPS, Q3 2023 earnings at $0.25 EPS and Q4 2023 earnings at $0.34 EPS.
Several other research firms have also issued reports on SB. Citigroup lowered their price target on Safe Bulkers from $3.50 to $2.85 in a research report on Sunday, November 13th. StockNews.com downgraded Safe Bulkers from a “buy” rating to a “hold” rating in a report on Saturday, December 17th.
Safe Bulkers Stock Performance
Shares of Safe Bulkers stock opened at $3.25 on Monday. The company has a current ratio of 1.73, a quick ratio of 2.20 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $395.33 million, a P/E ratio of 2.37 and a beta of 0.92. The business has a fifty day simple moving average of $3.05 and a two-hundred day simple moving average of $3.01. Safe Bulkers has a 12 month low of $2.35 and a 12 month high of $5.12.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in Safe Bulkers in the 2nd quarter worth approximately $81,000. Yorktown Management & Research Co Inc raised its holdings in shares of Safe Bulkers by 18.8% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 115,000 shares of the shipping company’s stock worth $284,000 after acquiring an additional 18,200 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Safe Bulkers by 411.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 40,908 shares of the shipping company’s stock worth $156,000 after acquiring an additional 32,914 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Safe Bulkers during the 2nd quarter worth approximately $68,000. Finally, Walleye Capital LLC raised its holdings in shares of Safe Bulkers by 227.6% during the 2nd quarter. Walleye Capital LLC now owns 288,317 shares of the shipping company’s stock worth $1,101,000 after acquiring an additional 200,317 shares in the last quarter. 25.95% of the stock is owned by hedge funds and other institutional investors.
Safe Bulkers Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Wednesday, March 1st will be issued a $0.05 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.20 dividend on an annualized basis and a yield of 6.15%. Safe Bulkers’s dividend payout ratio is presently 14.60%.
Safe Bulkers Company Profile
Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.
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