Research analysts at Jefferies Group assumed coverage on shares of Safe Bulkers (NYSE:SB) in a report released on Monday. The firm set a “hold” rating and a $3.00 price target on the shipping company’s stock. Jefferies Group’s price target indicates a potential downside of 6.25% from the stock’s previous close.

Several other brokerages also recently weighed in on SB. Citigroup upped their target price on shares of Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Maxim Group set a $5.00 target price on shares of Safe Bulkers and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus set a $2.00 target price on shares of Safe Bulkers and gave the company a “hold” rating in a research note on Saturday, October 21st. Finally, ValuEngine downgraded shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $3.10.

Shares of Safe Bulkers (SB) opened at $3.20 on Monday. Safe Bulkers has a 52-week low of $1.14 and a 52-week high of $3.79. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.00.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Safe Bulkers during the 3rd quarter valued at $101,000. Rhumbline Advisers bought a new position in Safe Bulkers during the 2nd quarter valued at $117,000. New York State Common Retirement Fund bought a new position in Safe Bulkers during the 2nd quarter valued at $117,000. Macquarie Group Ltd. bought a new position in Safe Bulkers during the 3rd quarter valued at $142,000. Finally, Engineers Gate Manager LP bought a new position in Safe Bulkers during the 2nd quarter valued at $131,000. Hedge funds and other institutional investors own 20.20% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/12/18/jefferies-group-begins-coverage-on-safe-bulkers-sb.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers and related stocks with our FREE daily email newsletter.