Safe Bulkers, Inc. (NYSE:SB)’s share price hit a new 52-week low on Thursday . The company traded as low as $1.83 and last traded at $1.86, with a volume of 8222 shares. The stock had previously closed at $1.96.
A number of brokerages have recently weighed in on SB. ValuEngine lowered Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Zacks Investment Research upgraded Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 27th. Evercore ISI upgraded Safe Bulkers from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $4.00 to $4.50 in a research note on Thursday, October 18th. They noted that the move was a valuation call. TheStreet lowered Safe Bulkers from a “c-” rating to a “d+” rating in a research note on Thursday, September 6th. Finally, Jefferies Financial Group upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Safe Bulkers currently has an average rating of “Hold” and an average price target of $4.21.
The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $190.92 million, a P/E ratio of -11.88 and a beta of 2.24.
Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Wednesday, November 7th. The shipping company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $50.10 million for the quarter, compared to the consensus estimate of $48.08 million. Safe Bulkers had a return on equity of 25.12% and a net margin of 11.41%. As a group, equities analysts forecast that Safe Bulkers, Inc. will post 0.19 earnings per share for the current year.
Several hedge funds have recently modified their holdings of SB. Marshall Wace LLP acquired a new stake in shares of Safe Bulkers in the 3rd quarter valued at $1,993,000. Renaissance Technologies LLC boosted its holdings in shares of Safe Bulkers by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock valued at $10,696,000 after purchasing an additional 542,822 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Safe Bulkers by 97.7% in the 2nd quarter. Millennium Management LLC now owns 999,095 shares of the shipping company’s stock valued at $3,397,000 after purchasing an additional 493,652 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Safe Bulkers in the 3rd quarter valued at $889,000. Finally, BlackRock Inc. boosted its holdings in shares of Safe Bulkers by 13.1% in the 2nd quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock valued at $8,760,000 after purchasing an additional 298,282 shares in the last quarter. 19.82% of the stock is currently owned by hedge funds and other institutional investors.
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Safe Bulkers Company Profile (NYSE:SB)
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.
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