ValuEngine lowered shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
A number of other equities analysts also recently issued reports on SB. Zacks Investment Research downgraded Safe Bulkers from a buy rating to a hold rating in a report on Tuesday, June 12th. TheStreet upgraded Safe Bulkers from a d+ rating to a c- rating in a report on Wednesday, June 27th. Maxim Group reiterated a buy rating and issued a $6.00 price objective on shares of Safe Bulkers in a report on Monday, July 23rd. Finally, Seaport Global Securities upgraded Safe Bulkers from a neutral rating to a buy rating and increased their price objective for the stock from $3.50 to $5.00 in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Safe Bulkers has a consensus rating of Hold and an average target price of $3.79.
Shares of Safe Bulkers stock opened at $2.86 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.08. The company has a market cap of $310.76 million, a P/E ratio of -18.69 and a beta of 2.15. Safe Bulkers has a 52 week low of $2.67 and a 52 week high of $3.99.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Wednesday, July 25th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $47.00 million during the quarter, compared to the consensus estimate of $46.45 million. Safe Bulkers had a return on equity of 21.84% and a net margin of 11.47%. Safe Bulkers’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. equities analysts predict that Safe Bulkers will post 0.2 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in shares of Safe Bulkers by 20.9% in the second quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock worth $10,696,000 after acquiring an additional 542,822 shares during the last quarter. Millennium Management LLC grew its stake in shares of Safe Bulkers by 97.7% in the second quarter. Millennium Management LLC now owns 999,095 shares of the shipping company’s stock worth $3,397,000 after acquiring an additional 493,652 shares during the last quarter. BlackRock Inc. grew its stake in shares of Safe Bulkers by 13.1% in the second quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock worth $8,760,000 after acquiring an additional 298,282 shares during the last quarter. Navellier & Associates Inc purchased a new stake in shares of Safe Bulkers in the first quarter worth $487,000. Finally, UBS Group AG grew its stake in shares of Safe Bulkers by 14.9% in the first quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock worth $2,385,000 after acquiring an additional 97,344 shares during the last quarter. Institutional investors and hedge funds own 21.28% of the company’s stock.
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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