Jefferies Financial Group upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a report released on Friday, MarketBeat Ratings reports. Jefferies Financial Group currently has $4.00 price target on the shipping company’s stock. Jefferies Financial Group also issued estimates for Safe Bulkers’ FY2018 earnings at $0.20 EPS.
A number of other equities research analysts also recently weighed in on SB. Zacks Investment Research upgraded Safe Bulkers from a strong sell rating to a hold rating in a report on Saturday, October 27th. Seaport Global Securities upgraded Safe Bulkers from a neutral rating to a buy rating and lifted their target price for the stock from $3.50 to $5.00 in a report on Tuesday, July 31st. Maxim Group reiterated a buy rating and issued a $6.00 target price on shares of Safe Bulkers in a report on Monday, July 23rd. ValuEngine downgraded Safe Bulkers from a hold rating to a sell rating in a report on Tuesday, August 28th. Finally, Evercore ISI upgraded Safe Bulkers from an in-line rating to an outperform rating and lifted their target price for the stock from $4.00 to $4.50 in a report on Thursday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $4.21.
Shares of SB traded down $0.10 during mid-day trading on Friday, reaching $2.37. 340,175 shares of the company were exchanged, compared to its average volume of 297,272. Safe Bulkers has a 52 week low of $2.31 and a 52 week high of $3.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $251.85 million, a price-to-earnings ratio of -14.81 and a beta of 2.30.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Wednesday, November 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Safe Bulkers had a return on equity of 25.18% and a net margin of 11.41%. The company had revenue of $50.10 million for the quarter, compared to the consensus estimate of $48.08 million. As a group, sell-side analysts anticipate that Safe Bulkers will post 0.21 EPS for the current year.
A number of hedge funds have recently modified their holdings of SB. BlackRock Inc. increased its holdings in Safe Bulkers by 1.0% in the first quarter. BlackRock Inc. now owns 2,278,130 shares of the shipping company’s stock worth $7,222,000 after purchasing an additional 23,359 shares in the last quarter. UBS Group AG grew its stake in Safe Bulkers by 14.9% in the first quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock valued at $2,385,000 after acquiring an additional 97,344 shares during the period. Millennium Management LLC grew its stake in Safe Bulkers by 375.5% in the first quarter. Millennium Management LLC now owns 505,443 shares of the shipping company’s stock valued at $1,602,000 after acquiring an additional 399,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Safe Bulkers in the second quarter valued at approximately $175,000. Finally, Engineers Gate Manager LP acquired a new stake in Safe Bulkers in the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 21.16% 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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