Brokerages Set Safe Bulkers Inc. (NYSE:SB) PT at $1.55
Safe Bulkers Inc. (NYSE:SB) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $1.55.
A number of research firms have commented on SB. Morgan Stanley set a $1.20 price target on shares of Safe Bulkers and gave the stock a “hold” rating in a research report on Monday, August 1st. Jefferies Group restated a “hold” rating on shares of Safe Bulkers in a research report on Tuesday, September 6th. Seaport Global Securities began coverage on shares of Safe Bulkers in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $1.00 price target on the stock. Zacks Investment Research upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Tuesday, July 5th. Finally, Credit Suisse Group AG downgraded shares of Safe Bulkers from a “neutral” rating to an “underperform” rating and set a $1.00 price target on the stock. in a research report on Friday, July 29th.
Shares of Safe Bulkers (NYSE:SB) opened at 1.46 on Friday. The stock has a 50 day moving average of $1.40 and a 200 day moving average of $1.15. Safe Bulkers has a 52-week low of $0.30 and a 52-week high of $3.75. The firm’s market capitalization is $121.88 million.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $26.20 million for the quarter, compared to the consensus estimate of $29.20 million. Safe Bulkers had a negative net margin of 56.19% and a negative return on equity of 5.88%. Safe Bulkers’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) EPS. On average, analysts predict that Safe Bulkers will post ($0.64) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in shares of Safe Bulkers during the second quarter valued at about $147,000. Parametric Portfolio Associates LLC increased 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 during the period. Kopernik Global Investors LLC increased 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 during the period. Phoenix Investment Adviser LLC purchased a new position in Safe Bulkers during the second quarter valued at $250,000. Finally, Emerald Acquisition Ltd. purchased a new position in Safe Bulkers during the second quarter valued at $1,435,000. 12.36% of the stock is currently 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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