Safe Bulkers, Inc (SB) Earns “Hold” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Safe Bulkers, Inc (NYSE:SB) in a report released on Friday. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS and FY2017 earnings at ($0.21) EPS.
SB has been the topic of a number of other research reports. Zacks Investment Research cut Safe Bulkers from a hold rating to a sell rating in a research note on Tuesday, July 25th. Maxim Group set a $5.00 price objective on Safe Bulkers and gave the stock a buy rating in a research note on Thursday, October 19th. BidaskClub cut Safe Bulkers from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Citigroup Inc. boosted their price target on Safe Bulkers from $2.00 to $2.50 and gave the stock a sell rating in a research note on Thursday. Finally, Stifel Nicolaus set a $2.00 price target on Safe Bulkers and gave the stock a hold rating in a research note on Saturday, October 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Safe Bulkers has a consensus rating of Hold and an average price target of $3.00.
Shares of Safe Bulkers (SB) traded up $0.23 on Friday, hitting $3.69. The company’s stock had a trading volume of 717,870 shares, compared to its average volume of 460,063. Safe Bulkers has a 12 month low of $1.09 and a 12 month high of $3.65. 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 (NYSE:SB) last issued its quarterly earnings data on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The company 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%. The firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. equities research analysts predict that Safe Bulkers will post -0.18 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in SB. Evermore Global Advisors LLC raised its stake in Safe Bulkers by 35.1% during the second quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after buying an additional 1,402,983 shares in the last quarter. Renaissance Technologies LLC raised its stake in Safe Bulkers by 335.2% during the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after buying an additional 977,900 shares in the last quarter. State Street Corp acquired a new stake in Safe Bulkers during the second quarter valued at approximately $1,088,000. Northern Trust Corp acquired a new stake in Safe Bulkers during the second quarter valued at approximately $943,000. Finally, Driehaus Capital Management LLC acquired a new stake in Safe Bulkers during the first quarter valued at approximately $569,000. Institutional investors and hedge funds 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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