Safe Bulkers, Inc (SB) Receives Consensus Rating of “Hold” from Brokerages
Safe Bulkers, Inc (NYSE:SB) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.19.
SB has been the topic of a number of recent research reports. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c-” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Maxim Group initiated coverage on shares of Safe Bulkers in a research report on Monday, August 21st. They set a “buy” rating and a $5.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $2.50 price target on shares of Safe Bulkers in a research report on Tuesday, July 4th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $2.25 price target on shares of Safe Bulkers in a research report on Wednesday, July 19th.
Safe Bulkers (SB) traded up 0.59% during midday trading on Friday, reaching $3.43. 512,666 shares of the company traded hands. The company’s market capitalization is $347.68 million. Safe Bulkers has a one year low of $1.09 and a one year high of $3.65. The stock’s 50 day moving average is $2.85 and its 200 day moving average is $2.29.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02. Safe Bulkers had a negative net margin of 26.74% and a negative return on equity of 3.34%. The business had revenue of $35.01 million for the quarter, compared to the consensus estimate of $36.81 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The firm’s revenue was up 33.6% on a year-over-year basis. On average, equities analysts anticipate that Safe Bulkers will post ($0.21) earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Rhumbline Advisers bought a new position in shares of Safe Bulkers in the second quarter worth approximately $117,000. New York State Common Retirement Fund bought a new position in shares of Safe Bulkers in the second quarter worth approximately $117,000. Engineers Gate Manager LP bought a new position in shares of Safe Bulkers in the second quarter worth approximately $131,000. Credit Suisse AG bought a new position in shares of Safe Bulkers in the first quarter worth approximately $140,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Safe Bulkers in the second quarter worth $190,000. Hedge funds and other institutional investors own 18.98% of the company’s stock.
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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