Safe Bulkers (SB) Trading Down 5.3%

Safe Bulkers, Inc. (NYSE:SB) shares fell 5.3% on Friday . The company traded as low as $3.24 and last traded at $3.24. 557,150 shares were traded during mid-day trading, an increase of 5% from the average session volume of 533,120 shares. The stock had previously closed at $3.42.

A number of research firms have recently commented on SB. Morgan Stanley cut shares of Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research note on Monday, February 12th. Stifel Nicolaus set a $3.00 target price on shares of Safe Bulkers and gave the stock a “hold” rating in a research note on Thursday, February 15th. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Thursday, January 25th. Finally, Jefferies Group began coverage on shares of Safe Bulkers in a research note on Monday, December 18th. They set a “hold” rating and a $3.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Safe Bulkers has an average rating of “Hold” and an average target price of $3.71.

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The company has a market capitalization of $356.39, a P/E ratio of -3.31 and a beta of 1.98. The company has a quick ratio of 2.03, a current ratio of 2.14 and a debt-to-equity ratio of 1.19.

Safe Bulkers (NYSE:SB) last released its earnings results on Wednesday, February 14th. The shipping company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $38.12 million. Safe Bulkers had a net margin of 3.26% and a return on equity of 16.52%. The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. analysts anticipate that Safe Bulkers, Inc. will post 0.18 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evermore Global Advisors LLC grew its stake in Safe Bulkers by 0.7% during the 4th quarter. Evermore Global Advisors LLC now owns 3,735,740 shares of the shipping company’s stock valued at $12,066,000 after acquiring an additional 25,972 shares in the last quarter. Renaissance Technologies LLC grew its stake in Safe Bulkers by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,322,800 shares of the shipping company’s stock valued at $7,503,000 after acquiring an additional 197,838 shares in the last quarter. BlackRock Inc. grew its stake in Safe Bulkers by 3.5% during the 4th quarter. BlackRock Inc. now owns 2,254,771 shares of the shipping company’s stock valued at $7,284,000 after acquiring an additional 75,927 shares in the last quarter. Cortina Asset Management LLC grew its stake in Safe Bulkers by 35.5% during the 4th quarter. Cortina Asset Management LLC now owns 1,917,543 shares of the shipping company’s stock valued at $6,194,000 after acquiring an additional 501,958 shares in the last quarter. Finally, Signia Capital Management LLC purchased a new stake in Safe Bulkers during the 4th quarter valued at about $2,426,000. 22.42% of the stock is owned by institutional investors.

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Safe Bulkers Company Profile

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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