Safe Bulkers (SB) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Safe Bulkers (NYSE:SB) from a strong sell rating to a sell rating in a report released on Tuesday, ValuEngine reports.

SB has been the subject of several other reports. Maxim Group dropped their target price on Safe Bulkers to $3.50 and set a buy rating for the company in a research report on Wednesday, February 20th. Zacks Investment Research downgraded Safe Bulkers from a hold rating to a sell rating in a research report on Friday, January 18th. Finally, TheStreet upgraded Safe Bulkers from a d+ rating to a c rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $3.86.

NYSE:SB opened at $1.66 on Tuesday. The stock has a market capitalization of $170.27 million, a P/E ratio of 9.76 and a beta of 1.65. The company has a current ratio of 1.85, a quick ratio of 1.78 and a debt-to-equity ratio of 1.16. Safe Bulkers has a twelve month low of $1.28 and a twelve month high of $3.90.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $52.57 million during the quarter, compared to analyst estimates of $52.04 million. Safe Bulkers had a net margin of 14.19% and a return on equity of 6.30%. Equities analysts predict that Safe Bulkers will post 0.17 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of SB. Renaissance Technologies LLC raised its position in shares of Safe Bulkers by 6.5% during the third quarter. Renaissance Technologies LLC now owns 3,350,200 shares of the shipping company’s stock worth $9,649,000 after acquiring an additional 204,278 shares during the last quarter. BlackRock Inc. raised its position in shares of Safe Bulkers by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock worth $4,749,000 after acquiring an additional 69,107 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Safe Bulkers during the third quarter worth about $1,993,000. TIAA CREF Investment Management LLC raised its position in shares of Safe Bulkers by 59.7% during the third quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock worth $1,919,000 after acquiring an additional 249,270 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in shares of Safe Bulkers during the fourth quarter worth about $705,000. Hedge funds and other institutional investors own 19.22% of the company’s stock.

About Safe Bulkers

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

Further Reading: Gross Domestic Product (GDP)

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

Analyst Recommendations for Safe Bulkers (NYSE:SB)

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