Safe Bulkers, Inc (SB) Rating Reiterated by Jefferies Group LLC
Safe Bulkers, Inc (NYSE:SB)‘s stock had its “hold” rating reissued by Jefferies Group LLC in a research note issued on Friday.
Other analysts have also issued reports about the company. Citigroup Inc. boosted their price objective on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a report on Thursday. Maxim Group assumed coverage on Safe Bulkers in a report on Monday, August 21st. They issued a “buy” rating and a $5.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 price objective on shares of Safe Bulkers in a report on Wednesday, July 19th. Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, BidaskClub lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Safe Bulkers presently has a consensus rating of “Hold” and a consensus price target of $3.00.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Safe Bulkers had a negative return on equity of 2.08% and a negative net margin of 2.01%. The business had revenue of $38.80 million for the quarter, compared to analyst estimates of $37.12 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 37.6% compared to the same quarter last year.
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Several large investors have recently bought and sold shares of SB. Evermore Global Advisors LLC grew its holdings in shares of Safe Bulkers by 35.1% during 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 purchasing an additional 1,402,983 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Safe Bulkers by 335.2% during the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after purchasing an additional 977,900 shares during the last quarter. State Street Corp bought a new position in shares of Safe Bulkers during the second quarter valued at approximately $1,088,000. Northern Trust Corp bought a new position in shares of Safe Bulkers during the second quarter valued at approximately $943,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Safe Bulkers during the first quarter valued at approximately $569,000. 19.00% of the stock is owned by institutional investors.
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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