Safe Bulkers, Inc (SB) Receives $1.07 Average Target Price from Analysts
Safe Bulkers, Inc (NYSE:SB) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $1.07.
Several equities research analysts recently commented on SB shares. Zacks Investment Research upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a research report on Wednesday, November 23rd. Clarkson Capital reiterated a “neutral” rating on shares of Safe Bulkers in a research report on Monday, October 31st.
Safe Bulkers (NYSE:SB) opened at 1.37 on Wednesday. Safe Bulkers has a 52-week low of $0.30 and a 52-week high of $2.38. The firm’s market capitalization is $114.36 million. The company’s 50-day moving average price is $1.28 and its 200 day moving average price is $1.32.
Safe Bulkers (NYSE:SB) last issued its earnings results on Monday, October 31st. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $27.10 million for the quarter, compared to analyst estimates of $26.98 million. Safe Bulkers had a negative net margin of 75.21% and a negative return on equity of 6.57%. The business’s revenue was down 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. Equities analysts predict that Safe Bulkers will post ($0.61) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new position in shares of Safe Bulkers during the second quarter valued at $1,435,000. Paloma Partners Management Co purchased a new position in shares of Safe Bulkers during the second quarter valued at $147,000. Phoenix Investment Adviser LLC increased its position in shares of Safe Bulkers by 43.0% in the third quarter. Phoenix Investment Adviser LLC now owns 340,120 shares of the company’s stock valued at $480,000 after buying an additional 102,232 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock valued at $485,000 after buying an additional 18,803 shares during the last quarter. 9.65% of the stock is owned by hedge funds and other institutional investors.
About Safe Bulkers
Safe Bulkers, Inc (Safe Bulkers) is a holding company. The Company’s primary business is the acquisition, ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, primarily coal, grain and iron ore, along across the world shipping routes.
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