Shares of Safe Bulkers Inc. (NYSE:SB) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1.55.
A number of research firms recently weighed in on SB. Morgan Stanley set a $1.20 price target on Safe Bulkers and gave the stock a “hold” rating in a research note on Monday, August 1st. Jefferies Group reissued a “hold” rating on shares of Safe Bulkers in a research note on Tuesday, September 6th. Seaport Global Securities assumed coverage on Safe Bulkers in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $1.00 price objective for the company. Credit Suisse Group AG reissued a “hold” rating on shares of Safe Bulkers in a research note on Friday, June 3rd. Finally, Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Tuesday, July 5th.
Safe Bulkers (NYSE:SB) traded down 1.38% during mid-day trading on Friday, reaching $1.43. The company had a trading volume of 59,898 shares. Safe Bulkers has a one year low of $0.30 and a one year high of $3.75. The stock’s market capitalization is $119.37 million. The company’s 50-day moving average is $1.38 and its 200-day moving average is $1.14.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Safe Bulkers had a negative return on equity of 5.88% and a negative net margin of 56.19%. The business had revenue of $26.20 million for the quarter, compared to the consensus estimate of $29.20 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was down 17.6% on a year-over-year basis. Equities research analysts anticipate that Safe Bulkers will post ($0.64) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Kopernik Global Investors LLC raised its position in Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the company’s stock valued at $4,548,000 after buying an additional 24,453 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Safe Bulkers during the second quarter valued at about $1,435,000. Parametric Portfolio Associates LLC raised its position in Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock valued at $485,000 after buying an additional 18,803 shares in the last quarter. Phoenix Investment Adviser LLC acquired a new position in Safe Bulkers during the second quarter valued at about $250,000. Finally, Paloma Partners Management Co acquired a new position in Safe Bulkers during the second quarter valued at about $147,000. 12.36% of the stock is owned by institutional investors.
About Safe Bulkers
Safe Bulkers, Inc (Safe Bulkers) is a holding company. The Company’s primary business is the acquisition, ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, primarily coal, grain and iron ore, along across the world shipping routes.
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