Safe Bulkers, Inc (SB) Given Average Recommendation of “Hold” by Analysts
Shares of Safe Bulkers, Inc (NYSE:SB) have been given an average rating of “Hold” by the nine brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $2.58.
SB has been the topic of several recent research reports. BidaskClub cut Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Friday, April 21st. TheStreet raised Safe Bulkers from a “d+” rating to a “c-” rating in a research note on Tuesday, June 13th. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 target price on shares of Safe Bulkers in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $2.50 target price on shares of Safe Bulkers in a research note on Tuesday, July 4th.
Several large investors have recently added to or reduced their stakes in SB. Evermore Global Advisors LLC boosted its stake in Safe Bulkers by 35.1% in the second quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after buying an additional 1,402,983 shares during the period. Renaissance Technologies LLC boosted its stake in Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after buying an additional 977,900 shares during the period. State Street Corp acquired a new stake in Safe Bulkers during the second quarter valued at approximately $1,088,000. Northern Trust Corp acquired a new stake in Safe Bulkers during the second quarter valued at approximately $943,000. Finally, EAM Investors LLC acquired a new stake in Safe Bulkers during the first quarter valued at approximately $683,000. 16.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Safe Bulkers (NYSE SB) traded down 1.04% during trading on Tuesday, reaching $2.85. The company’s stock had a trading volume of 477,305 shares. Safe Bulkers has a one year low of $1.09 and a one year high of $2.99. The stock’s 50 day moving average is $2.54 and its 200 day moving average is $2.09. The firm’s market cap is $288.88 million.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $36.81 million. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. Safe Bulkers’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. On average, equities analysts forecast that Safe Bulkers will post ($0.22) EPS for the current fiscal year.
Safe Bulkers Company Profile
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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