Safe Bulkers, Inc (NYSE:SB) had its price objective raised by Citigroup Inc. from $2.00 to $2.50 in a research report report published on Thursday, November 2nd. The firm currently has a sell rating on the shipping company’s stock.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a hold rating and set a $2.25 price target on shares of Safe Bulkers in a research report on Wednesday, July 19th. Zacks Investment Research cut Safe Bulkers from a hold rating to a sell rating in a report on Tuesday, July 25th. BidaskClub cut Safe Bulkers from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Maxim Group began coverage on Safe Bulkers in a research note on Monday, August 21st. They set a buy rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $3.00.
Shares of Safe Bulkers (NYSE:SB) traded down $0.11 during midday trading on Thursday, hitting $3.16. The company had a trading volume of 535,780 shares, compared to its average volume of 613,440. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.28 and a quick ratio of 2.28. Safe Bulkers has a 1 year low of $1.09 and a 1 year high of $3.79.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) 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 analyst estimates of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. equities analysts forecast that Safe Bulkers will post -0.18 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC lifted its holdings in Safe Bulkers by 35.1% during the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after buying an additional 1,402,983 shares during the last quarter. Cortina Asset Management LLC purchased a new stake in Safe Bulkers during the 3rd quarter worth about $3,879,000. Renaissance Technologies LLC lifted its holdings in Safe Bulkers by 335.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after buying an additional 977,900 shares during the last quarter. State Street Corp purchased a new stake in Safe Bulkers during the 2nd quarter worth about $1,088,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Safe Bulkers by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after buying an additional 171,813 shares during the last quarter. Hedge funds and other institutional investors own 18.93% of the company’s stock.
About Safe Bulkers
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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