Safe Bulkers, Inc (NYSE:SB)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday, November 3rd. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.21) EPS.
Several other brokerages have also issued reports on SB. Citigroup Inc. lifted their price target on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Maxim Group set a $5.00 target price on Safe Bulkers and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the stock a “hold” rating in a report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $3.00.
Shares of Safe Bulkers (NYSE:SB) traded up $0.01 on Friday, reaching $3.45. The company had a trading volume of 417,600 shares, compared to its average volume of 615,128. Safe Bulkers has a 1 year low of $1.09 and a 1 year high of $3.79. 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 (NYSE:SB) last released its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share 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 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 quarter in the previous year, the business posted ($0.15) EPS. equities analysts forecast that Safe Bulkers will post -0.18 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Safe Bulkers by 57.1% during the first quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock valued at $1,041,000 after purchasing an additional 171,813 shares during the period. Renaissance Technologies LLC grew its position in Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after acquiring an additional 977,900 shares during the period. Bank of New York Mellon Corp bought a new stake in Safe Bulkers in the second quarter valued at $307,000. Driehaus Capital Management LLC bought a new stake in Safe Bulkers in the first quarter valued at $569,000. Finally, Evermore Global Advisors LLC grew its position 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 valued at $12,356,000 after acquiring an additional 1,402,983 shares during the period. Institutional investors and hedge funds own 18.87% 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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