Safe Bulkers (SB) Downgraded by ValuEngine to Sell

Safe Bulkers (NYSE:SB) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

SB has been the subject of several other research reports. Zacks Investment Research lowered Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Maxim Group set a $5.00 target price on Safe Bulkers and gave the stock a “buy” rating in a research report on Sunday, November 19th. Jefferies Group reiterated a “hold” rating on shares of Safe Bulkers in a research report on Friday, November 3rd. Citigroup lifted their target price on Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the stock a “hold” rating in a research report on Saturday, October 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $3.00.

Shares of Safe Bulkers (NYSE SB) traded up $0.09 on Friday, hitting $3.25. The stock had a trading volume of 449,712 shares, compared to its average volume of 524,607. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.00. Safe Bulkers has a one year low of $1.09 and a one year high of $3.79.

Safe Bulkers (NYSE:SB) last issued its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $38.80 million during the quarter, compared to analyst estimates of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The business’s revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. equities analysts expect that Safe Bulkers will post -0.19 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Safe Bulkers by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after purchasing an additional 171,813 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Safe Bulkers in the 2nd quarter worth approximately $307,000. Renaissance Technologies LLC lifted its holdings in shares of Safe Bulkers by 335.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after purchasing an additional 977,900 shares during the last quarter. TIAA CREF Investment Management LLC bought a new stake in shares of Safe Bulkers in the 2nd quarter worth approximately $292,000. Finally, Evermore Global Advisors LLC lifted its holdings in shares of Safe Bulkers by 35.1% in the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after purchasing an additional 1,402,983 shares during the last quarter. 20.20% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Safe Bulkers (NYSE:SB)

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