Safe Bulkers, Inc. (NYSE:SB) Given Average Recommendation of “Hold” by Brokerages
Safe Bulkers, Inc. (NYSE:SB) has received a consensus rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $1.95.
SB has been the topic of several analyst reports. Morgan Stanley raised 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 research report on Tuesday, March 28th. Zacks Investment Research lowered Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Thursday, March 23rd. TheStreet raised Safe Bulkers from a “d+” rating to a “c-” rating in a research report on Tuesday, June 13th. Jefferies Group LLC boosted their target price on Safe Bulkers from $1.50 to $2.50 and gave the company a “hold” rating in a research report on Monday, April 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $2.25 target price on shares of Safe Bulkers in a research report on Wednesday.
Hedge funds have recently made changes to their positions in the stock. EAM Investors LLC purchased a new stake in shares of Safe Bulkers during the first quarter worth about $683,000. Berson & Corrado Investment Advisors LLC purchased a new stake in shares of Safe Bulkers during the first quarter worth about $221,000. Renaissance Technologies LLC raised its stake in shares of Safe Bulkers by 107.0% in the fourth quarter. Renaissance Technologies LLC now owns 291,700 shares of the shipping company’s stock worth $335,000 after buying an additional 150,800 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Safe Bulkers during the fourth quarter worth about $1,412,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Safe Bulkers during the first quarter worth about $569,000. 15.25% of the stock is currently owned by institutional investors.
Shares of Safe Bulkers (NYSE SB) traded up 1.21% during midday trading on Friday, hitting $2.51. The stock had a trading volume of 405,861 shares. Safe Bulkers has a 52-week low of $1.07 and a 52-week high of $2.75. The firm’s 50 day moving average price is $2.32 and its 200 day moving average price is $1.94. The firm’s market cap is $249.20 million.
Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Thursday, May 18th. The shipping company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The firm had revenue of $33.30 million for the quarter, compared to analyst estimates of $27.85 million. Safe Bulkers had a negative net margin of 14.62% and a negative return on equity of 5.68%. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities research analysts expect that Safe Bulkers will post ($0.18) earnings per share for the current year.
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.
Receive News & Ratings for Safe Bulkers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.