Last $6.44 USD
Change Today -0.22 / -3.30%
Volume 372.0K
SB On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 12:50 PM 10/1/14 All times are local (Market data is delayed by at least 15 minutes).

safe bulkers inc (SB) Snapshot

Open
$6.66
Previous Close
$6.66
Day High
$6.77
Day Low
$6.41
52 Week High
03/7/14 - $11.48
52 Week Low
10/9/13 - $6.21
Market Cap
537.4M
Average Volume 10 Days
473.2K
EPS TTM
$0.65
Shares Outstanding
83.4M
EX-Date
08/15/14
P/E TM
10.0x
Dividend
$0.24
Dividend Yield
3.69%
Current Stock Chart for SAFE BULKERS INC (SB)

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safe bulkers inc (SB) Details

Safe Bulkers, Inc. provides marine dry bulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of dry bulk vessels for transporting bulk cargoes, primarily coal, grain, and iron ore. The company’s subsidiaries own 31 dry bulk vessels, with an aggregating carrying capacity of 2.9 million deadweight tons (dwt). As of July 28, 2014, its average age of the fleet is 5.6 years. Safe Bulkers, Inc. was incorporated in 2007 and is based in Athens, Greece.

5 Employees
Last Reported Date: 03/5/14
Founded in 2007

safe bulkers inc (SB) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

safe bulkers inc (SB) Key Developments

Safe Bulkers, Inc. Enters into $210.0 Million Reducing Revolving Credit Facility Agreement with DNB Bank ASA

Safe Bulkers, Inc. announced that it has entered into a $210.0 million, six-year, reducing revolving credit facility agreement with DNB Bank ASA, secured by ten vessels. Under the agreement, the Company will be subject to the following financial covenants which will be measured on a consolidated basis: The total consolidated liabilities of the Company divided by its total consolidated assets must not exceed 85%. The ratio of the Company's EBITDA1 to its interest expense must be less than 2.0:1 on a trailing 12 month basis. The consolidated net worth of the Company (total consolidated assets less total consolidated liabilities) must not be less than $150.0 million. The new credit facility will be used to finance the acquisition of two previously contracted newbuild vessels, scheduled to be delivered to the Company in 2015, and to replace and prolong an existing credit facility with the same lender, presently secured by eight existing vessels. The Company intends to finance its newbuild program with cash on hand and bank financing. With this reducing revolving credit facility and the other committed credit facilities, the Company has secured bank financing for twelve out of thirteen newbuild vessels on order.

Safe Bulkers, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Safe Bulkers, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $41,443,000 against $37,178,000 a year ago. Operating income was $24,723,000 against $5,719,000 a year ago. Net income available to common shareholders was $24,423,000 or $0.32 per share against $573,000 or $0.01 per share a year ago. EBITDA was $36,106,000 against $15,129,000 a year ago. Adjusted EBITDA was $26,593,000 against $16,285,000 a year ago. Adjusted net income available to common shareholders was $14,910,000 or $0.19 per share against $1,729,000 or $0.02 per share a year ago. Net revenues decreased by 10% as compared to the same period in 2013, mainly due to a decrease in time charter rates. For the six months, the company reported net revenues of $85,668,000 against $78,521,000 a year ago. Operating income was $43,522,000 against $19,889,000 a year ago. Net income available to common shareholders was $40,492,000 or $0.53 per share against $11,005,000 or $0.13 per share a year ago. EBITDA was $63,624,000 against $38,863,000 a year ago. Adjusted EBITDA was $54,012,000 against $37,403,000 a year ago. Adjusted net income available to common shareholders was $30,880,000 or $0.40 per share against $9,545,000 or $0.11 per share a year ago.

Safe Bulkers, Inc. Declares Quarterly Dividend for the Second Quarter Ended June 30, 2014

Safe Bulkers, Inc. declared a quarterly dividend of $0.06 per share of common stock for the second quarter of 2014.

 

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Industry Analysis

SB

Industry Average

Valuation SB Industry Range
Price/Earnings 10.4x
Price/Sales 3.1x
Price/Book 0.8x
Price/Cash Flow 5.8x
TEV/Sales NM Not Meaningful
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