Safe Bulkers, Inc (SB) Shares Down 3.2%
Safe Bulkers, Inc (NYSE:SB) shares traded down 3.2% during trading on Tuesday . The company traded as low as $3.12 and last traded at $3.04. 513,945 shares were traded during trading, a decline of 18% from the average session volume of 628,078 shares. The stock had previously closed at $3.14.
A number of research analysts have recently commented on the company. Maxim Group assumed coverage on Safe Bulkers in a report on Monday, August 21st. They set a “buy” rating and a $5.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and set a $2.25 price objective on shares of Safe Bulkers in a report on Wednesday, July 19th. Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. BidaskClub lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $2.50 price objective on shares of Safe Bulkers in a report on Tuesday, July 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $3.05.
The stock’s 50 day moving average price is $3.00 and its 200-day moving average price is $2.39. The firm’s market cap is $307.13 million.
Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $35.01 million during the quarter, compared to the consensus estimate of $36.81 million. Safe Bulkers had a negative net margin of 26.74% and a negative return on equity of 3.34%. Safe Bulkers’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. On average, equities research analysts forecast that Safe Bulkers, Inc will post ($0.21) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in Safe Bulkers in the second quarter valued at approximately $117,000. New York State Common Retirement Fund bought a new stake in Safe Bulkers in the second quarter valued at approximately $117,000. Engineers Gate Manager LP bought a new stake in Safe Bulkers in the second quarter valued at approximately $131,000. Credit Suisse AG bought a new stake in Safe Bulkers in the first quarter valued at approximately $140,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Safe Bulkers in the second quarter valued at approximately $190,000. Hedge funds and other institutional investors own 18.98% of the company’s stock.
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Safe Bulkers Company Profile
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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