Safe Bulkers (SB) Cut to Sell at ValuEngine

ValuEngine cut shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a report released on Friday morning.

Other equities research analysts have also issued research reports about the stock. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the stock a buy rating in a report on Sunday, November 19th. Zacks Investment Research raised shares of Safe Bulkers from a sell rating to a hold rating in a report on Saturday, August 5th. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the stock a hold rating in a report on Saturday, October 21st. Jefferies Group reissued a hold rating on shares of Safe Bulkers in a report on Friday, November 3rd. Finally, Citigroup raised their price target on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a sell rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $3.00.

Safe Bulkers (NYSE:SB) traded up $0.08 during mid-day trading on Friday, hitting $3.25. 449,700 shares of the company traded hands, compared to its average volume of 603,523. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.79.

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 for the quarter, compared to analyst estimates of $37.12 million. Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) EPS. research analysts expect that Safe Bulkers will post -0.19 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of SB. Dynamic Technology Lab Private Ltd purchased a new position in Safe Bulkers in the third quarter worth about $101,000. New York State Common Retirement Fund purchased a new position in Safe Bulkers in the second quarter worth about $117,000. Rhumbline Advisers purchased a new position in Safe Bulkers in the second quarter worth about $117,000. Engineers Gate Manager LP purchased a new position in Safe Bulkers in the second quarter worth about $131,000. Finally, Credit Suisse AG purchased a new position in Safe Bulkers in the first quarter worth about $140,000. 20.20% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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