Safe Bulkers (NYSE:SB) Stock Price Down 6.9%

Safe Bulkers, Inc. (NYSE:SB)’s stock price dropped 6.9% during mid-day trading on Thursday . The stock traded as low as $1.88 and last traded at $1.89, approximately 524,244 shares changed hands during trading. An increase of 56% from the average daily volume of 335,266 shares. The stock had previously closed at $2.03.

SB has been the topic of several research reports. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective on the stock in a report on Wednesday. ValuEngine downgraded Safe Bulkers from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Finally, TheStreet raised Safe Bulkers from a “d+” rating to a “c” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $3.63.

The company’s 50 day simple moving average is $1.84. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $180.23 million, a P/E ratio of 10.47 and a beta of 1.74.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $48.29 million for the quarter, compared to the consensus estimate of $44.69 million. Safe Bulkers had a return on equity of 6.18% and a net margin of 13.56%. Research analysts predict that Safe Bulkers, Inc. will post 0.16 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in SB. Barclays PLC increased its holdings in Safe Bulkers by 284.7% during the 4th quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after purchasing an additional 79,168 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Safe Bulkers by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock valued at $441,000 after acquiring an additional 34,889 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Safe Bulkers by 13.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock valued at $526,000 after acquiring an additional 35,228 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Safe Bulkers by 2.7% in the 4th quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock valued at $4,749,000 after acquiring an additional 69,107 shares in the last quarter. Hedge funds and other institutional investors own 15.96% of the company’s stock.

About Safe Bulkers (NYSE:SB)

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

Featured Story: What is the formula for the cash asset ratio?

Receive News & Ratings for Safe Bulkers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers and related companies with MarketBeat.com's FREE daily email newsletter.