Safe Bulkers, Inc (NYSE:SB) Rating Reiterated by Stifel Nicolaus
Safe Bulkers, Inc (NYSE:SB)‘s stock had its “hold” rating reissued by stock analysts at Stifel Nicolaus in a report released on Wednesday. They currently have a $2.25 price objective on the shipping company’s stock. Stifel Nicolaus’ price target indicates a potential downside of 9.27% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Jefferies Group LLC reiterated a “hold” rating and issued a $2.50 price objective on shares of Safe Bulkers in a report on Tuesday, July 4th. TheStreet upgraded Safe Bulkers from a “d+” rating to a “c-” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Friday, April 21st. Finally, Morgan Stanley upgraded Safe Bulkers from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $1.30 to $3.00 in a report on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.04.
Safe Bulkers (NYSE SB) traded up 0.605% on Wednesday, reaching $2.495. 298,274 shares of the company’s stock traded hands. Safe Bulkers has a 12 month low of $1.07 and a 12 month high of $2.75. The firm’s market cap is $247.71 million. The firm’s 50-day moving average is $2.32 and its 200 day moving average is $1.94.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Thursday, May 18th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The business had revenue of $33.30 million during the quarter, compared to the consensus estimate of $27.85 million. Safe Bulkers had a negative return on equity of 4.35% and a negative net margin of 35.00%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Equities analysts predict that Safe Bulkers will post ($0.18) EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Safe Bulkers by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after buying an additional 171,813 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Safe Bulkers during the first quarter worth approximately $569,000. Credit Suisse AG bought a new stake in Safe Bulkers during the first quarter worth approximately $140,000. KCG Holdings Inc. boosted its stake in Safe Bulkers by 342.8% in the first quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock worth $772,000 after buying an additional 271,650 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after buying an additional 977,900 shares in the last quarter. 15.25% of the stock is currently owned by hedge funds and other 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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