Safe Bulkers, Inc. (SB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Safe Bulkers, Inc. (NYSE:SB) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $4.33.

Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 27th. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Evercore ISI raised shares of Safe Bulkers from an “in-line” rating to an “outperform” rating and upped their price target for the company from $4.00 to $4.50 in a research report on Thursday, October 18th. They noted that the move was a valuation call. TheStreet cut shares of Safe Bulkers from a “c-” rating to a “d+” rating in a research report on Thursday, September 6th. Finally, Jefferies Financial Group raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Friday, November 9th.

Shares of Safe Bulkers stock opened at $2.13 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. Safe Bulkers has a twelve month low of $1.89 and a twelve month high of $3.99. The firm has a market capitalization of $202.09 million, a P/E ratio of -13.31 and a beta of 2.26.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Wednesday, November 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the 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, sell-side analysts predict that Safe Bulkers will post 0.19 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in Safe Bulkers during the second quarter valued at $187,000. BlackRock Inc. boosted its position in Safe Bulkers by 13.1% during the second quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock valued at $8,760,000 after acquiring an additional 298,282 shares during the last quarter. Renaissance Technologies LLC boosted its position in Safe Bulkers by 20.9% during the second quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock valued at $10,696,000 after acquiring an additional 542,822 shares during the last quarter. Dupont Capital Management Corp bought a new stake in Safe Bulkers during the third quarter valued at $309,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Safe Bulkers during the second quarter valued at $175,000. 19.82% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Safe Bulkers (NYSE:SB)

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