Safe Bulkers, Inc. (NYSE:SB) – Equities research analysts at Jefferies Financial Group issued their Q3 2018 EPS estimates for shares of Safe Bulkers in a research report issued to clients and investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans expects that the shipping company will post earnings of $0.07 per share for the quarter. Jefferies Financial Group also issued estimates for Safe Bulkers’ Q4 2018 earnings at $0.10 EPS.
A number of other research firms have also recently weighed in on SB. Zacks Investment Research cut shares of Safe Bulkers from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 1st. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Seaport Global Securities upgraded shares of Safe Bulkers from a “neutral” rating to a “buy” rating and lifted their target price for the company from $3.50 to $5.00 in a research note on Tuesday, July 31st. Evercore ISI upgraded shares of Safe Bulkers from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $4.00 to $4.50 in a research note on Thursday, October 18th. They noted that the move was a valuation call. Finally, Maxim Group restated a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Safe Bulkers has an average rating of “Hold” and a consensus target price of $4.07.
Shares of Safe Bulkers stock opened at $2.53 on Thursday. The firm has a market cap of $253.89 million, a PE ratio of -15.81 and a beta of 2.39. Safe Bulkers has a 1-year low of $2.31 and a 1-year high of $3.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.93 and a current ratio of 0.93.
A number of hedge funds and other institutional investors have recently made changes to their positions in SB. Dynamic Technology Lab Private Ltd increased its holdings in Safe Bulkers by 154.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,522 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 17,941 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Safe Bulkers in the 1st quarter valued at $120,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Safe Bulkers in the 2nd quarter valued at $175,000. Engineers Gate Manager LP bought a new stake in Safe Bulkers in the 2nd quarter valued at $187,000. Finally, Russell Investments Group Ltd. bought a new stake in Safe Bulkers in the 2nd quarter valued at $241,000. Institutional investors own 21.23% of the company’s stock.
Safe Bulkers Company Profile
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.
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