Safe Bulkers, Inc. (NYSE:SB) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $1.83 and last traded at $1.86, with a volume of 8222 shares traded. The stock had previously closed at $1.96.

Several research analysts have commented on SB shares. Jefferies Financial Group raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Friday, November 9th. TheStreet downgraded Safe Bulkers from a “c-” rating to a “d+” rating in a report on Thursday, September 6th. Zacks Investment Research raised Safe Bulkers from a “strong sell” rating to a “hold” rating in a report on Saturday, October 27th. Evercore ISI raised Safe Bulkers from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $4.00 to $4.50 in a report on Thursday, October 18th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.21.

The firm has a market capitalization of $190.92 million, a P/E ratio of -11.88 and a beta of 2.24. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.07.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Wednesday, November 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Safe Bulkers had a return on equity of 25.12% and a net margin of 11.41%. The business had revenue of $50.10 million during the quarter, compared to the consensus estimate of $48.08 million. As a group, equities research analysts predict that Safe Bulkers, Inc. will post 0.19 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of Safe Bulkers in the 3rd quarter worth about $1,993,000. TIAA CREF Investment Management LLC raised its position in shares of Safe Bulkers by 59.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock worth $1,919,000 after acquiring an additional 249,270 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Safe Bulkers by 6.5% in the 3rd quarter. Renaissance Technologies LLC now owns 3,350,200 shares of the shipping company’s stock worth $9,649,000 after acquiring an additional 204,278 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Safe Bulkers by 198.0% in the 3rd quarter. GSA Capital Partners LLP now owns 53,700 shares of the shipping company’s stock worth $155,000 after acquiring an additional 35,682 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Safe Bulkers by 174.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 141,075 shares of the shipping company’s stock worth $406,000 after acquiring an additional 89,700 shares in the last quarter. 19.82% of the stock is owned by hedge funds and other institutional investors.

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About Safe Bulkers (NYSE:SB)

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.

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