Shares of Safe Bulkers (NYSE:SB) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $3.50.
Several equities analysts have recently commented on SB shares. Maxim Group reaffirmed a “buy” rating and set a $5.50 target price (up from $5.00) on shares of Safe Bulkers in a report on Thursday, February 15th. ValuEngine lowered Safe Bulkers from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 4th. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, January 25th. Morgan Stanley lowered their target price on Safe Bulkers from $3.70 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, April 17th. Finally, Stifel Nicolaus set a $3.00 target price on Safe Bulkers and gave the company a “hold” rating in a report on Thursday, February 15th.
A number of hedge funds have recently modified their holdings of the stock. Evermore Global Advisors LLC grew its holdings in Safe Bulkers by 0.7% in the 4th quarter. Evermore Global Advisors LLC now owns 3,735,740 shares of the shipping company’s stock worth $12,066,000 after buying an additional 25,972 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Safe Bulkers by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,322,800 shares of the shipping company’s stock worth $7,503,000 after buying an additional 197,838 shares in the last quarter. BlackRock Inc. grew its holdings in Safe Bulkers by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,278,130 shares of the shipping company’s stock worth $7,222,000 after buying an additional 23,359 shares in the last quarter. Cortina Asset Management LLC grew its holdings in Safe Bulkers by 35.5% in the 4th quarter. Cortina Asset Management LLC now owns 1,917,543 shares of the shipping company’s stock worth $6,194,000 after buying an additional 501,958 shares in the last quarter. Finally, UBS Group AG grew its holdings in Safe Bulkers by 14.9% in the 1st quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock worth $2,385,000 after buying an additional 97,344 shares in the last quarter. 20.28% of the stock is owned by institutional investors and hedge funds.
Shares of Safe Bulkers traded up $0.01, hitting $3.10, during trading on Friday, MarketBeat Ratings reports. 191,900 shares of the company traded hands, compared to its average volume of 478,699. The firm has a market capitalization of $316.79 million, a PE ratio of -19.25 and a beta of 1.96. Safe Bulkers has a one year low of $1.76 and a one year high of $3.99. The company has a current ratio of 2.14, a quick ratio of 2.03 and a debt-to-equity ratio of 1.19.
Safe Bulkers (NYSE:SB) last posted its earnings results on Wednesday, February 14th. The shipping company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $44.00 million during the quarter, compared to analyst estimates of $38.12 million. Safe Bulkers had a return on equity of 16.52% and a net margin of 3.26%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. analysts predict that Safe Bulkers will post 0.19 EPS for the current fiscal year.
About Safe Bulkers
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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