Safe Bulkers (SB) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a report published on Friday, December 1st.

A number of other equities analysts also recently commented on SB. Zacks Investment Research upgraded Safe Bulkers from a sell rating to a hold rating in a report on Wednesday, September 27th. Jefferies Group reiterated a hold rating on shares of Safe Bulkers in a report on Friday, November 3rd. Maxim Group set a $5.00 price target on Safe Bulkers and gave the company a buy rating in a report on Tuesday, October 31st. Stifel Nicolaus set a $2.00 price objective on Safe Bulkers and gave the company a hold rating in a research report on Saturday, October 21st. Finally, Citigroup increased their price objective on Safe Bulkers from $2.00 to $2.50 and gave the company a sell rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Safe Bulkers has a consensus rating of Hold and an average price target of $3.00.

Shares of Safe Bulkers (NYSE:SB) traded down $0.16 during midday trading on Friday, reaching $3.16. 700,200 shares of the company’s stock were exchanged, compared to its average volume of 597,782. 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 has a 52 week low of $1.10 and a 52 week high of $3.79.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $38.80 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. equities research analysts forecast that Safe Bulkers will post -0.19 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Evermore Global Advisors LLC boosted its holdings in Safe Bulkers by 35.1% during the second quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock worth $12,356,000 after buying an additional 1,402,983 shares during the last quarter. Cortina Asset Management LLC bought a new position in shares of Safe Bulkers during the 3rd quarter valued at about $3,879,000. Renaissance Technologies LLC lifted its stake in Safe Bulkers by 335.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after acquiring an additional 977,900 shares in the last quarter. State Street Corp bought a new stake in Safe Bulkers in the 2nd quarter valued at approximately $1,088,000. Finally, Goldman Sachs Group Inc. lifted its stake in Safe Bulkers by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock valued at $1,041,000 after acquiring an additional 171,813 shares in the last quarter. Hedge funds and other institutional investors own 20.20% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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