Safe Bulkers Reaches New 12-Month High at $7.78 (SB)
Safe Bulkers (NYSE:SB)’s share price reached a new 52-week high during trading on Friday, Analyst RN reports. The stock traded as high as $7.78 and last traded at $7.65, with a volume of 867,195 shares traded. The stock had previously closed at $7.47.
A number of analysts have recently weighed in on SB shares. Analysts at Merrill Lynch upgraded shares of Safe Bulkers from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, August 27th. Separately, analysts at Bank of America Corp. upgraded shares of Safe Bulkers from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, August 27th. They now have a $8.00 price target on the stock, up previously from $6.00. Finally, analysts at Global Hunter Securities raised their price target on shares of Safe Bulkers from $5.50 to $7.00 in a research note to investors on Thursday, August 22nd. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $6.50.
Safe Bulkers has a 52 week low of $3.12 and a 52 week high of $7.65. The stock’s 50-day moving average is $6.92 and its 200-day moving average is $5.60. The company has a market cap of $582.8 million and a P/E ratio of 6.13.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.19. The company had revenue of $41.40 million for the quarter, compared to the consensus estimate of $40.41 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts expect that Safe Bulkers will post $0.68 EPS for the current fiscal year.
Safe Bulkers, Inc (NYSE:SB) is an international provider of marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along global shipping routes for some of the global consumers of marine dry bulk transportation services.
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