Safe Bulkers, Inc (SB) Earns Hold Rating from Stifel Nicolaus
Safe Bulkers, Inc (NYSE:SB)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a research note issued to investors on Wednesday. They presently have a $2.25 price target on the shipping company’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 14.77% from the company’s previous close.
SB has been the topic of a number of other reports. Morgan Stanley upgraded shares of Safe Bulkers from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1.30 to $3.00 in a report on Tuesday, March 28th. Zacks Investment Research downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a report on Thursday, March 23rd. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c-” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC boosted their target price on shares of Safe Bulkers from $1.50 to $2.50 and gave the stock a “hold” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.04.
Safe Bulkers (SB) traded up 0.76% on Wednesday, hitting $2.66. 102,196 shares of the stock traded hands. Safe Bulkers has a 52-week low of $1.07 and a 52-week high of $2.75. The stock’s market cap is $264.10 million. The company’s 50 day moving average price is $2.29 and its 200-day moving average price is $1.93.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Thursday, May 18th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $33.30 million for the quarter, compared to the consensus estimate of $27.85 million. Safe Bulkers had a negative net margin of 35.00% and a negative return on equity of 4.35%. Safe Bulkers’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS. On average, analysts forecast that Safe Bulkers will post ($0.18) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC bought a new stake in Safe Bulkers during the fourth quarter valued at about $5,618,000. Kopernik Global Investors LLC boosted its stake in shares of Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the shipping company’s stock valued at $4,548,000 after buying an additional 24,453 shares during the last quarter. Warlander Asset Management LP acquired a new stake in shares of Safe Bulkers during the fourth quarter valued at $2,415,000. GSA Capital Partners LLP acquired a new stake in shares of Safe Bulkers during the fourth quarter valued at $2,229,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Safe Bulkers during the second quarter valued at $1,435,000. 15.25% of the stock is owned by institutional investors.
About Safe Bulkers
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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