Zacks Investment Research upgraded shares of Safe Bulkers Inc. (NYSE:SB) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $1.75 price objective on the stock.

According to Zacks, “SAFE BULKERS is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest consumers of marine drybulk transportation services. “

Several other equities analysts also recently commented on the company. Clarkson Capital reiterated a neutral rating on shares of Safe Bulkers in a report on Monday, October 31st. Jefferies Group restated a hold rating on shares of Safe Bulkers in a research note on Monday, September 12th. Seaport Global Securities started coverage on shares of Safe Bulkers in a research note on Tuesday, August 2nd. They issued a neutral rating and a $1.00 price objective on the stock. Morgan Stanley set a $1.20 price objective on shares of Safe Bulkers and gave the stock a hold rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG downgraded shares of Safe Bulkers from a neutral rating to an underperform rating and set a $1.00 price objective on the stock. in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Safe Bulkers currently has an average rating of Hold and an average price target of $1.09.

Analyst Recommendations for Safe Bulkers (NYSE:SB)

Shares of Safe Bulkers (NYSE:SB) opened at 1.54 on Wednesday. The firm’s market cap is $128.75 million. The company has a 50 day moving average of $1.43 and a 200-day moving average of $1.26. Safe Bulkers has a 12-month low of $0.30 and a 12-month high of $2.38.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Monday, October 31st. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Safe Bulkers had a negative return on equity of 6.57% and a negative net margin of 75.21%. The company had revenue of $27.10 million for the quarter, compared to the consensus estimate of $26.98 million. During the same quarter last year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. Equities research analysts forecast that Safe Bulkers will post ($0.62) EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. boosted its position in shares of Safe Bulkers by 2.0% in the third quarter. Emerald Acquisition Ltd. now owns 1,393,524 shares of the company’s stock worth $1,966,000 after buying an additional 27,628 shares during the last quarter. Phoenix Investment Adviser LLC boosted its position in shares of Safe Bulkers by 43.0% in the third quarter. Phoenix Investment Adviser LLC now owns 340,120 shares of the company’s stock worth $480,000 after buying an additional 102,232 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Safe Bulkers during the second quarter worth about $147,000. Parametric Portfolio Associates LLC boosted its position in shares of Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock worth $485,000 after buying an additional 18,803 shares during the last quarter. Finally, Kopernik Global Investors LLC boosted its position in shares of Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the company’s stock worth $4,548,000 after buying an additional 24,453 shares during the last quarter. 12.35% of the stock is owned by institutional investors.

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Safe Bulkers Company Profile

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.

5 Day Chart for NYSE:SB

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