Maxim Group Reiterates “$5.00” Price Target for Safe Bulkers, Inc (SB)
Safe Bulkers, Inc (NYSE:SB) received a $5.00 price target from research analysts at Maxim Group in a report released on Thursday. The brokerage presently has a “buy” rating on the shipping company’s stock. Maxim Group’s target price suggests a potential upside of 51.98% from the company’s current price.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BidaskClub lowered shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 price target on shares of Safe Bulkers in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $2.50 price target on shares of Safe Bulkers in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Safe Bulkers has a consensus rating of “Hold” and a consensus target price of $3.13.
Shares of Safe Bulkers (NYSE SB) traded up 1.54% during trading on Thursday, reaching $3.29. The company’s stock had a trading volume of 534,048 shares. Safe Bulkers has a 1-year low of $1.09 and a 1-year high of $3.65. The company’s 50-day moving average price is $3.13 and its 200 day moving average price is $2.59. The stock’s market capitalization is $333.99 million.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The business had revenue of $35.01 million during the quarter, compared to analyst estimates of $36.81 million. During the same period last year, the company earned ($0.15) EPS. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. Analysts anticipate that Safe Bulkers will post ($0.20) EPS for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Safe Bulkers during the second quarter valued at approximately $117,000. New York State Common Retirement Fund bought a new stake in shares of Safe Bulkers during the second quarter valued at approximately $117,000. Engineers Gate Manager LP bought a new stake in shares of Safe Bulkers during the second quarter valued at approximately $131,000. Credit Suisse AG bought a new stake in shares of Safe Bulkers during the first quarter valued at approximately $140,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Safe Bulkers during the second quarter valued at approximately $190,000. 18.96% of the stock is currently owned by institutional investors and hedge funds.
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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