Safe Bulkers, Inc (NYSE:SB) Lowered to Buy at BidaskClub
Safe Bulkers, Inc (NYSE:SB) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, July 25th.
Several other research analysts have also recently commented on SB. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.25 target price on shares of Safe Bulkers in a report on Wednesday, July 19th. TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c-” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Jefferies Group LLC reiterated a “hold” rating and set a $2.50 price target on shares of Safe Bulkers in a research report on Tuesday, July 4th. Finally, Morgan Stanley upgraded shares of Safe Bulkers from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $1.30 to $3.00 in a research report on Tuesday, March 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $2.56.
Safe Bulkers (NYSE SB) traded up 2.91% during mid-day trading on Tuesday, reaching $2.83. The company’s stock had a trading volume of 394,999 shares. The firm’s 50 day moving average price is $2.58 and its 200 day moving average price is $2.11. The firm’s market capitalization is $286.86 million. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $2.99.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The business had revenue of $35.01 million for the quarter, compared to the consensus estimate of $36.81 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, analysts anticipate that Safe Bulkers will post ($0.22) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of SB. Rhumbline Advisers bought a new stake in shares of Safe Bulkers during the second quarter worth $117,000. New York State Common Retirement Fund bought a new stake in shares of Safe Bulkers during the second quarter worth $117,000. Engineers Gate Manager LP bought a new stake in shares of Safe Bulkers during the second quarter worth $131,000. Credit Suisse AG acquired a new position in shares of Safe Bulkers during the first quarter worth approximately $140,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Safe Bulkers during the second quarter worth approximately $190,000. Hedge funds and other institutional investors own 16.48% of the company’s stock.
About Safe Bulkers
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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