Safe Bulkers, Inc (NYSE:SB)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a note issued to investors on Friday. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.21) EPS.
Several other analysts also recently weighed in on SB. Stifel Nicolaus restated a “hold” rating and issued a $2.25 price target 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. BidaskClub downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Maxim Group initiated coverage on Safe Bulkers in a research note on Monday, August 21st. They issued a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.00.
Shares of Safe Bulkers (NYSE:SB) opened at $3.46 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.52 and a debt-to-equity ratio of 1.00. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.65.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $38.80 million for the quarter, compared to the consensus estimate of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. sell-side analysts predict that Safe Bulkers will post -0.18 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of SB. Evermore Global Advisors LLC boosted its stake in Safe Bulkers by 35.1% during the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after purchasing an additional 1,402,983 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Safe Bulkers by 335.2% during 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. State Street Corp purchased a new stake in Safe Bulkers during the 2nd quarter valued at $1,088,000. Northern Trust Corp purchased a new stake in Safe Bulkers during the 2nd quarter valued at $943,000. Finally, Driehaus Capital Management LLC purchased a new stake in Safe Bulkers during the 1st quarter valued at $569,000. Institutional investors and hedge funds own 19.00% of the company’s stock.
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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