Safe Bulkers Inc (NYSE:SB) saw an upside of 3.50% to close Friday at $3.25 after adding $0.11 on the day. The 5-day average trading volume is 465,020 shares of the company’s common stock. It has gained $3.27 in the past week and touched a new high 3 times within the past 5 days. An average of 440,910 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 433,966.
SB’s 1-month performance is 2.20% or $0.05 on its low of $2.97 reached on 09/07/23. The company’s shares have touched a 52-week low of $2.35 and high of $3.85, with the stock’s rally to the 52-week high happening on 04/17/23. YTD, SB has achieved 11.68% or $0.34 and has reached a new high 16 times. However, the current price is down -15.58% from the 52-week high price.
Valuation Metrics
SB stock has a beta of 0.90. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.14 while the price-to-book (PB) in the most recent quarter is 0.50.
Safe Bulkers Inc’s quick ratio for the period ended June 29 was 1.82, with the current ratio over the same period at 1.59. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.52, while the total debt to equity was 0.58. In terms of profitability, the gross margin trailing 12 months is 50.95%. The trailing 12-month EBITDA margin is 66.96% while for the period ending June 29, Safe Bulkers Inc’s operating margin was 43.75%. The firm’s gross profit as reported stood at $259.54 million against revenue of $349.72 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 0.01% to $163.58 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected SB to announce $0.12 per share in earnings in its latest quarter, but it posted $0.12, representing a 0.00% surprise. EBITDA for the quarter stood at more than $21.54 million. SB stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 489.44 million, with total debt at $445.71 million.
Let’s look briefly at Safe Bulkers Inc (SB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 63.15% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.38%.
The stock’s 5-day moving average is $3.17, reflecting a +3.17% or $0.10 change from its current price. SB is currently trading +4.50% above its 20-day SMA, -11.44% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -3.27% and SMA200 by+19.49%.
Stochastic %K and %D was 79.26% and 73.74% and the average true range (ATR) pointed at 0.09. The RSI (14) points at 57.42%, while the 14-day stochastic is at 93.33% with the period’s ATR at 0.08. The stock’s 9-day MACD Oscillator is pointing at 0.06 and 0.09 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Safe Bulkers Inc (NYSE: SB), Jefferies downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for SB stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate SB as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is SB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.85 and a high of $4.60, with their median price target at $3.95. Looking at these predictions, the average price target given by analysts is for Safe Bulkers Inc (SB) stock is $3.84.
