Safe Bulkers (NYSE:SB) Stock Rating Lowered by Wall Street Zen

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

Safe Bulkers Stock Performance

NYSE SB opened at $7.83 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $6.45. Safe Bulkers has a 1 year low of $3.86 and a 1 year high of $8.05. The firm has a market capitalization of $796.92 million, a P/E ratio of 10.03 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.63%. The firm had revenue of $87.47 million during the quarter, compared to analysts’ expectations of $77.50 million.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Safe Bulkers by 2.0% in the first quarter. Renaissance Technologies LLC now owns 3,557,921 shares of the shipping company’s stock valued at $22,522,000 after buying an additional 68,155 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Safe Bulkers by 30.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,651,114 shares of the shipping company’s stock worth $12,778,000 after acquiring an additional 617,711 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Safe Bulkers by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,314,711 shares of the shipping company’s stock worth $4,739,000 after acquiring an additional 62,931 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Safe Bulkers by 3.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,187,934 shares of the shipping company’s stock worth $5,726,000 after acquiring an additional 36,356 shares during the last quarter. Finally, Fearnley Asset Management AS acquired a new position in shares of Safe Bulkers during the 4th quarter worth approximately $5,112,000. Institutional investors own 21.69% of the company’s stock.

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.