Zacks Investment Research cut shares of Safe Bulkers Inc. (NYSE:SB) from a buy rating to a hold rating in a research report released on Thursday.

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. “

SB has been the subject of several other reports. Jefferies Group reaffirmed a hold rating on shares of Safe Bulkers in a research report on Tuesday, September 6th. Morgan Stanley set a $1.20 target price on shares of Safe Bulkers and gave the stock a hold rating in a research report on Monday, August 1st. Clarkson Capital reaffirmed a neutral rating on shares of Safe Bulkers in a research report on Monday, October 31st. Seaport Global Securities assumed coverage on shares of Safe Bulkers in a research report on Tuesday, August 2nd. They issued a neutral rating and a $1.00 target price for the company. Finally, Credit Suisse Group AG cut shares of Safe Bulkers from a neutral rating to an underperform rating and set a $1.00 target price for the company. in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $1.09.

Analyst Recommendations for Safe Bulkers (NYSE:SB)

Shares of Safe Bulkers (NYSE:SB) opened at 1.54 on Thursday. The firm has a 50-day moving average of $1.43 and a 200-day moving average of $1.26. The company’s market capitalization is $128.75 million. 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) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). The business earned $27.10 million during the quarter, compared to analysts’ expectations of $26.98 million. Safe Bulkers had a negative net margin of 75.21% and a negative return on equity of 6.57%. The firm’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. On average, equities analysts predict that Safe Bulkers will post ($0.62) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SB. Paloma Partners Management Co acquired a new position in shares of Safe Bulkers during the second quarter worth about $147,000. Phoenix Investment Adviser LLC acquired a new position in shares of Safe Bulkers during the second quarter worth about $250,000. 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 period. Emerald Acquisition Ltd. acquired a new position in shares of Safe Bulkers during the second quarter worth about $1,435,000. 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 period. 12.35% of the stock is owned by institutional investors.

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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.

5 Day Chart for NYSE:SB

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