Safe Bulkers Rating Reiterated by Bank of America Corp. (SB)
Safe Bulkers (NYSE:SB)‘s stock had its “buy” rating restated by analysts at Bank of America Corp. in a research report issued to clients and investors on Tuesday, Analyst Ratings Network reports. They currently have a $8.00 target price on the stock. Bank of America Corp.’s target price would suggest a potential upside of 7.38% from the stock’s previous close.
SB has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Safe Bulkers from $6.00 to $8.50 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, 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. 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Safe Bulkers presently has an average rating of “Buy” and a consensus price target of $7.00.
Safe Bulkers (NYSE:SB) traded up 1.92% during mid-day trading on Tuesday, hitting $7.45. The stock had a trading volume of 322,366 shares. Safe Bulkers has a 52 week low of $3.12 and a 52 week high of $6.95. The stock has a 50-day moving average of $5.9 and a 200-day moving average of $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 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 last year, the company posted $0.31 earnings per share. Safe Bulkers’s revenue was down 11.9% compared to the same quarter last year. 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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