Safe Bulkers (NYSE:SB) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other analysts have also recently commented on SB. Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Maxim Group set a $5.00 target price on shares of Safe Bulkers and gave the stock a “buy” rating in a research note on Thursday, October 19th. Citigroup boosted their target price on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus set a $2.00 target price on shares of Safe Bulkers and gave the stock a “hold” rating in a research note on Saturday, October 21st. Finally, Jefferies Group reissued a “hold” rating on shares of Safe Bulkers in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Safe Bulkers presently has an average rating of “Hold” and a consensus price target of $3.00.

Safe Bulkers (SB) opened at $3.25 on Friday. Safe Bulkers has a fifty-two week low of $1.09 and a fifty-two week high of $3.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.28 and a quick ratio of 2.28.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. The company had revenue of $38.80 million during the quarter, compared to analysts’ expectations of $37.12 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. equities research analysts expect that Safe Bulkers will post -0.19 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in shares of Safe Bulkers by 39.4% during the third quarter. Engineers Gate Manager LP now owns 79,580 shares of the shipping company’s stock worth $218,000 after purchasing an additional 22,498 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Safe Bulkers during the 3rd quarter valued at about $101,000. Rhumbline Advisers purchased a new stake in Safe Bulkers during the 2nd quarter valued at about $117,000. New York State Common Retirement Fund purchased a new stake in Safe Bulkers during the 2nd quarter valued at about $117,000. Finally, Macquarie Group Ltd. purchased a new stake in Safe Bulkers during the 3rd quarter valued at about $142,000. 20.20% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “ValuEngine Downgrades Safe Bulkers (SB) to Sell” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.thecerbatgem.com/2017/12/02/valuengine-downgrades-safe-bulkers-sb-to-sell.html.

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.

Analyst Recommendations for Safe Bulkers (NYSE:SB)

Receive News & Stock Ratings for Safe Bulkers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers Inc. and related stocks with our FREE daily email newsletter.