Safe Bulkers, Inc (NYSE:SB) had its target price upped by Citigroup Inc. from $2.00 to $2.50 in a research note published on Thursday, November 2nd. They currently have a sell rating on the shipping company’s stock.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Safe Bulkers from a sell rating to a hold rating in a report on Wednesday, September 27th. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the stock a buy rating in a report on Tuesday, October 31st. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the stock a hold rating in a report on Saturday, October 21st. Finally, BidaskClub downgraded shares of Safe Bulkers from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $3.00.
Safe Bulkers (NYSE:SB) opened at $3.44 on Thursday. 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 has a 52 week low of $1.09 and a 52 week high of $3.79.
Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $38.80 million for the quarter, compared to analyst estimates of $37.12 million. Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. research analysts expect that Safe Bulkers will post -0.18 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in SB. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Safe Bulkers during the third quarter valued at about $101,000. New York State Common Retirement Fund purchased a new position in Safe Bulkers in the second quarter worth approximately $117,000. Rhumbline Advisers purchased a new position in Safe Bulkers in the second quarter worth approximately $117,000. Engineers Gate Manager LP purchased a new position in Safe Bulkers in the second quarter worth approximately $131,000. Finally, Credit Suisse AG purchased a new position in Safe Bulkers in the first quarter worth approximately $140,000. 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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