Safe Bulkers (NYSE:SB) Rating Lowered to Hold at Zacks Investment Research

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Safe Bulkers (NYSE:SB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “SAFE BULKERS is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest consumers of marine drybulk transportation services. “

A number of other brokerages have also recently weighed in on SB. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet upgraded Wayside Technology Group from a “c” rating to a “b-” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $3.90.

Shares of NYSE SB opened at $2.19 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.11. The stock has a market cap of $226.81 million, a PE ratio of 12.88 and a beta of 1.80. Safe Bulkers has a 1-year low of $1.28 and a 1-year high of $3.47. The stock’s fifty day moving average is $1.74.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $48.29 million during the quarter, compared to analysts’ expectations of $44.69 million. Safe Bulkers had a return on equity of 6.18% and a net margin of 13.56%. Analysts predict that Safe Bulkers will post 0.16 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in SB. BlackRock Inc. lifted 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 purchasing an additional 69,107 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Safe Bulkers by 13.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock worth $526,000 after purchasing an additional 35,228 shares during the period. Geode Capital Management LLC raised its holdings in Safe Bulkers by 16.3% in the fourth quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock worth $441,000 after purchasing an additional 34,889 shares during the period. Barclays PLC raised its holdings in Safe Bulkers by 284.7% in the fourth quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after purchasing an additional 79,168 shares during the period. Finally, Rhumbline Advisers raised its holdings in Safe Bulkers by 40.6% in the fourth quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock worth $124,000 after purchasing an additional 20,183 shares during the period. Institutional investors own 16.33% 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.

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