Safe Bulkers, Inc (NYSE:SB) received a $5.00 target price from equities research analysts at Maxim Group in a report released on Thursday, October 19th. The firm presently has a “buy” rating on the shipping company’s stock. Maxim Group’s price objective points to a potential upside of 44.93% from the company’s previous close.
A number of other analysts also recently issued reports on SB. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.25 price target on shares of Safe Bulkers in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 price target on shares of Safe Bulkers in a report on Tuesday, July 4th. BidaskClub downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $3.13.
Shares of Safe Bulkers (NYSE:SB) opened at 3.45 on Thursday. The stock’s market cap is $349.70 million. The firm has a 50-day moving average price of $3.13 and a 200 day moving average price of $2.61. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.65.
Safe Bulkers (NYSE:SB) last released its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The company had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $36.81 million. Safe Bulkers had a negative net margin of 26.74% and a negative return on equity of 3.34%. The company’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) earnings per share. On average, analysts forecast that Safe Bulkers will post ($0.20) EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of SB. Rhumbline Advisers acquired a new position in Safe Bulkers in the 2nd quarter valued at about $117,000. New York State Common Retirement Fund acquired a new position in Safe Bulkers in the 2nd quarter valued at about $117,000. Engineers Gate Manager LP acquired a new position in Safe Bulkers in the 2nd quarter valued at about $131,000. Credit Suisse AG acquired a new position in Safe Bulkers in the 1st quarter valued at about $140,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Safe Bulkers in the 2nd quarter valued at about $190,000. Institutional investors and hedge funds own 18.95% 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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