Safe Bulkers, Inc (NYSE:SB) – Research analysts at Jefferies Group upped their FY2017 EPS estimates for shares of Safe Bulkers in a research report issued on Wednesday. Jefferies Group analyst D. Mavrinac now expects that the shipping company will post earnings per share of ($0.21) for the year, up from their previous estimate of ($0.25). Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS.
Several other analysts have also issued reports on the company. Maxim Group set a $5.00 price target on Safe Bulkers and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BidaskClub downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the stock a “hold” rating in a research note on Saturday, October 21st. Finally, Citigroup Inc. increased their price target on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $3.00.
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Safe Bulkers (NYSE:SB) opened at $3.46 on Monday. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.28 and a quick ratio of 1.52.
Safe Bulkers (NYSE:SB) last released its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The company had revenue of $38.80 million during the quarter, compared to analysts’ expectations of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS.
A number of large investors have recently made changes to their positions in the stock. Evermore Global Advisors LLC lifted its stake in Safe Bulkers by 35.1% in the second quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after purchasing an additional 1,402,983 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Safe Bulkers by 335.2% during the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after buying an additional 977,900 shares during the period. State Street Corp purchased a new position in shares of Safe Bulkers during the second quarter valued at about $1,088,000. Northern Trust Corp purchased a new position in shares of Safe Bulkers during the second quarter valued at about $943,000. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Safe Bulkers by 168.1% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 344,475 shares of the shipping company’s stock worth $789,000 after purchasing an additional 215,975 shares during the period. Institutional investors own 19.00% of the company’s stock.
About Safe Bulkers
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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