Safe Bulkers PT Raised to $8.50 (SB)
Jefferies Group increased their price target on shares of Safe Bulkers (NYSE:SB) from $6.00 to $8.50 in a research note issued on Tuesday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 14.09% from the company’s current price.
A number of other analysts have also recently weighed in on SB. 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $7.00.
Safe Bulkers (NYSE:SB) traded up 1.92% during mid-day trading on Tuesday, hitting $7.45. 322,366 shares of the company’s stock traded hands. Safe Bulkers has a 52 week low of $3.12 and a 52 week high of $6.95. The stock’s 50-day moving average is $5.9 and its 200-day moving average is $5.21. The company has a market cap of $571.3 million and a P/E ratio of 6.00.
Safe Bulkers (NYSE:SB) last released its earnings data on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters 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. On average, analysts predict that Safe Bulkers will post $0.68 earnings per share 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.