Safe Bulkers, Inc. (NYSE:SB) Receives $3.63 Consensus Target Price from Brokerages

Shares of Safe Bulkers, Inc. (NYSE:SB) have been given a consensus recommendation of “Hold” by the six analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.00.

A number of analysts have recently weighed in on the company. Zacks Investment Research cut Safe Bulkers from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th.

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new stake in shares of Safe Bulkers in the 2nd quarter worth about $35,000. Marshall Wace North America L.P. acquired a new position in Safe Bulkers during the 2nd quarter valued at about $48,000. Parametric Portfolio Associates LLC grew its position in Safe Bulkers by 73.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock worth $172,000 after purchasing an additional 46,480 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Safe Bulkers by 19.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock worth $172,000 after purchasing an additional 18,302 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Safe Bulkers by 4.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock valued at $250,000 after purchasing an additional 7,065 shares during the period. Institutional investors and hedge funds own 14.90% of the company’s stock.

Shares of NYSE:SB traded down $0.01 during trading on Thursday, reaching $2.07. 369,296 shares of the company’s stock traded hands, compared to its average volume of 334,958. The stock has a market capitalization of $214.69 million, a P/E ratio of 12.18 and a beta of 1.66. Safe Bulkers has a 12 month low of $1.28 and a 12 month high of $3.05. The company has a 50 day moving average of $1.93 and a 200-day moving average of $1.68. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.68 and a quick ratio of 1.68.

Safe Bulkers (NYSE:SB) last issued its earnings results on Tuesday, September 3rd. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). Safe Bulkers had a return on equity of 5.45% and a net margin of 12.51%. The business had revenue of $45.52 million during the quarter, compared to the consensus estimate of $45.65 million. Equities research analysts predict that Safe Bulkers will post 0.09 earnings per share for the current fiscal year.

Safe Bulkers Company Profile

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.

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