Safe Bulkers, Inc. (NYSE:SB) – Jefferies Group increased their Q1 2018 EPS estimates for shares of Safe Bulkers in a research note issued on Thursday. Jefferies Group analyst R. Giveans now expects that the shipping company will earn $0.00 per share for the quarter, up from their prior estimate of ($0.02). Jefferies Group has a “Hold” rating and a $3.00 price objective on the stock.
SB has been the topic of a number of other reports. ValuEngine lowered Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Maxim Group set a $5.00 target price on Safe Bulkers and gave the company a “buy” rating in a research note on Sunday, November 19th. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup boosted their target price on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley lowered Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 target price on the stock. in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.71.
Shares of Safe Bulkers (NYSE SB) opened at $3.62 on Monday. The company has a market capitalization of $367.53, a price-to-earnings ratio of -19.05 and a beta of 2.13. Safe Bulkers has a fifty-two week low of $1.28 and a fifty-two week high of $3.84. 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 issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $44.00 million for the quarter, compared to analyst estimates of $38.12 million. Safe Bulkers had a return on equity of 15.79% and a net margin of 3.26%. Safe Bulkers’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of SB. Schwab Charles Investment Management Inc. bought a new stake in shares of Safe Bulkers in the second quarter valued at $190,000. Bank of New York Mellon Corp bought a new stake in shares of Safe Bulkers in the second quarter valued at $307,000. Teachers Advisors LLC bought a new stake in shares of Safe Bulkers during the 2nd quarter valued at $214,000. TIAA CREF Investment Management LLC bought a new stake in shares of Safe Bulkers during the 2nd quarter valued at $292,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Safe Bulkers during the 2nd quarter valued at $117,000. Hedge funds and other institutional investors own 21.03% 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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