Jefferies Group Research Analysts Lift Earnings Estimates for Safe Bulkers, Inc (SB)
Safe Bulkers, Inc (NYSE:SB) – Equities research analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for Safe Bulkers in a note issued to investors on Wednesday. Jefferies Group analyst D. Mavrinac now forecasts that the shipping company will post earnings per share of ($0.21) for the year, up from their previous forecast of ($0.25). Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS.
A number of other analysts have also recently issued reports on SB. Citigroup Inc. boosted their price objective on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Thursday, November 2nd. Maxim Group set a $5.00 price objective on Safe Bulkers and gave the company a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $2.25 price target on shares of Safe Bulkers in a research report on Wednesday, July 19th. Finally, BidaskClub cut Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Safe Bulkers presently has an average rating of “Hold” and an average price target of $3.00.
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Shares of Safe Bulkers (NYSE:SB) opened at $3.58 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Safe Bulkers has a 1 year low of $1.09 and a 1 year high of $3.79.
Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. Safe Bulkers’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share.
Several hedge funds have recently made changes to their positions in SB. New York State Common Retirement Fund bought a new stake in shares of Safe Bulkers during the second quarter worth $117,000. Rhumbline Advisers bought a new stake in shares of Safe Bulkers during the second quarter worth $117,000. Engineers Gate Manager LP bought a new stake in shares of Safe Bulkers during the second quarter worth $131,000. Credit Suisse AG bought a new stake in shares of Safe Bulkers during the first quarter worth $140,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Safe Bulkers during the second quarter worth $190,000. Institutional investors own 19.01% of the company’s stock.
About Safe Bulkers
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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