Safe Bulkers (NYSE:SB) Raised to “Buy” at Wall Street Zen

Safe Bulkers (NYSE:SB) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Safe Bulkers Stock Down 0.2%

SB stock opened at $7.02 on Friday. The company’s 50 day moving average price is $6.51 and its 200 day moving average price is $5.71. The firm has a market capitalization of $718.27 million, a price-to-earnings ratio of 23.41 and a beta of 0.89. Safe Bulkers has a fifty-two week low of $3.53 and a fifty-two week high of $7.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.63 and a current ratio of 2.90.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. Safe Bulkers had a net margin of 13.99% and a return on equity of 4.91%. The company had revenue of $72.57 million during the quarter, compared to the consensus estimate of $70.00 million.

Institutional Trading of Safe Bulkers

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Safe Bulkers by 77.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,917 shares of the shipping company’s stock worth $31,000 after buying an additional 2,150 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Safe Bulkers by 5.9% in the 2nd quarter. Tidal Investments LLC now owns 43,299 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 2,423 shares during the last quarter. DGS Capital Management LLC raised its position in shares of Safe Bulkers by 17.3% during the 1st quarter. DGS Capital Management LLC now owns 20,918 shares of the shipping company’s stock worth $132,000 after acquiring an additional 3,079 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Safe Bulkers by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 116,912 shares of the shipping company’s stock worth $588,000 after acquiring an additional 3,148 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Safe Bulkers by 0.6% during the third quarter. Vanguard Group Inc. now owns 765,593 shares of the shipping company’s stock worth $3,399,000 after purchasing an additional 4,300 shares during the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.