Safe Bulkers, Inc (SB) Receives Average Rating of “Hold” from Brokerages
Shares of Safe Bulkers, Inc (NYSE:SB) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.19.
Several research analysts have recently weighed in on SB shares. TheStreet raised Safe Bulkers from a “d+” rating to a “c-” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 target price on shares of Safe Bulkers in a research note on Tuesday, July 4th. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 price objective on shares of Safe Bulkers in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th.
Safe Bulkers (SB) traded down 1.33% during midday trading on Wednesday, hitting $2.96. 508,047 shares of the stock traded hands. Safe Bulkers has a 12 month low of $1.09 and a 12 month high of $3.65. The company’s 50 day moving average price is $3.10 and its 200 day moving average price is $2.49. The firm’s market cap is $300.03 million.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). The business had revenue of $35.01 million for the quarter, compared to analyst estimates of $36.81 million. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. Equities research analysts predict that Safe Bulkers will post ($0.20) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SB. Renaissance Technologies LLC raised its stake in Safe Bulkers by 335.2% in the 1st 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. KCG Holdings Inc. raised its stake in Safe Bulkers by 342.8% in the 1st quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock valued at $772,000 after purchasing an additional 271,650 shares during the last quarter. Credit Suisse AG acquired a new position in Safe Bulkers in the 1st quarter valued at $140,000. Driehaus Capital Management LLC acquired a new position in Safe Bulkers in the 1st quarter valued at $569,000. Finally, Goldman Sachs Group Inc. raised its stake in Safe Bulkers by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock valued at $1,041,000 after purchasing an additional 171,813 shares during the last quarter. 18.98% of the stock is owned by hedge funds and other institutional investors.
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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.
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