Safe Bulkers (NYSE:SB) Sees Unusually-High Trading Volume

Shares of Safe Bulkers, Inc. (NYSE:SB) saw an uptick in trading volume on Wednesday . 84,285 shares changed hands during trading, a decline of 94% from the previous session’s volume of 1,380,613 shares.The stock last traded at $5.17 and had previously closed at $4.90.

A number of equities analysts recently issued reports on SB shares. Zacks Investment Research cut shares of Safe Bulkers from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 23rd. HC Wainwright started coverage on shares of Safe Bulkers in a research report on Monday. They set a “buy” rating and a $6.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Safe Bulkers currently has an average rating of “Buy” and an average price target of $4.19.

The company has a debt-to-equity ratio of 0.81, a current ratio of 2.53 and a quick ratio of 2.39. The company’s 50-day moving average price is $3.63 and its two-hundred day moving average price is $3.43. The company has a market capitalization of $614.17 million, a price-to-earnings ratio of 10.00 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Tuesday, July 27th. The shipping company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Safe Bulkers had a net margin of 26.06% and a return on equity of 13.41%. The company had revenue of $78.15 million during the quarter, compared to analysts’ expectations of $70.27 million. On average, equities research analysts expect that Safe Bulkers, Inc. will post 1.18 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SB. Sei Investments Co. bought a new position in Safe Bulkers during the second quarter worth $41,000. Sigma Planning Corp bought a new position in Safe Bulkers during the second quarter worth $47,000. Paloma Partners Management Co bought a new position in Safe Bulkers during the first quarter worth $52,000. BNP Paribas Arbitrage SA boosted its stake in Safe Bulkers by 102.8% during the first quarter. BNP Paribas Arbitrage SA now owns 24,935 shares of the shipping company’s stock worth $61,000 after acquiring an additional 12,637 shares in the last quarter. Finally, Cedar Brook Financial Partners LLC bought a new position in shares of Safe Bulkers in the second quarter valued at $72,000. 27.70% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile (NYSE:SB)

Safe Bulkers, Inc is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels.

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