Jefferies Group initiated coverage on shares of Safe Bulkers (NYSE:SB) in a research note released on Monday. The firm issued a hold rating and a $3.00 price target on the shipping company’s stock. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at ($0.21) EPS and FY2018 earnings at $0.04 EPS.
Several other equities analysts have also recently issued reports on SB. Zacks Investment Research upgraded shares of Safe Bulkers from a sell rating to a hold rating in a research note on Wednesday, September 27th. ValuEngine cut shares of Safe Bulkers from a hold rating to a sell rating in a research note on Friday, December 1st. 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. 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. Finally, 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Safe Bulkers has an average rating of Hold and a consensus price target of $3.10.
Shares of Safe Bulkers (NYSE:SB) traded up $0.05 during trading on Monday, reaching $3.25. 257,700 shares of the company were exchanged, compared to its average volume of 593,294. 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 posted its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $38.80 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) EPS. analysts expect that Safe Bulkers will post -0.19 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Cortina Asset Management LLC bought a new position in shares of Safe Bulkers in the 3rd quarter worth approximately $3,879,000. State Street Corp bought a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $1,088,000. Northern Trust Corp bought a new position in shares of Safe Bulkers in the 2nd quarter worth approximately $943,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Safe Bulkers by 168.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 344,475 shares of the shipping company’s stock worth $789,000 after purchasing an additional 215,975 shares during the period. Finally, EAM Investors LLC bought a new position in shares of Safe Bulkers in the 3rd quarter worth approximately $485,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.
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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.
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