ValuEngine Lowers Safe Bulkers (SB) to Sell
ValuEngine lowered shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a research note issued to investors on Friday.
Other equities research analysts also recently issued research reports about the company. Maxim Group set a $5.00 price target on Safe Bulkers and gave the stock a buy rating in a report on Sunday, November 19th. Zacks Investment Research upgraded Safe Bulkers from a sell rating to a hold rating in a report on Saturday, August 5th. Stifel Nicolaus set a $2.00 price target on Safe Bulkers and gave the stock a hold rating in a report on Saturday, October 21st. Jefferies Group reiterated a hold rating on shares of Safe Bulkers in a report on Friday, November 3rd. Finally, Citigroup upped their price target on Safe Bulkers from $2.00 to $2.50 and gave the stock a sell rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $3.00.
Shares of Safe Bulkers (SB) traded up $0.08 during trading hours on Friday, hitting $3.33. The stock had a trading volume of 396,500 shares, compared to its average volume of 602,634. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.00. Safe Bulkers has a one year low of $1.09 and a one year high of $3.79.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The business had revenue of $38.80 million during the quarter, compared to the consensus estimate of $37.12 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Safe Bulkers’s revenue was up 37.6% compared to the same quarter last year. equities analysts predict that Safe Bulkers will post -0.19 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Evermore Global Advisors LLC grew its stake in Safe Bulkers by 35.1% in the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after purchasing an additional 1,402,983 shares during the period. Cortina Asset Management LLC bought a new position in shares of Safe Bulkers during the 3rd quarter worth $3,879,000. Renaissance Technologies LLC grew its stake in shares of Safe Bulkers by 335.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after acquiring an additional 977,900 shares during the period. State Street Corp bought a new position in shares of Safe Bulkers during the 2nd quarter worth $1,088,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Safe Bulkers by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after acquiring an additional 171,813 shares during the period. Hedge funds and other institutional investors own 20.20% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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