Today, Safe Bulkers Inc. (SB) Lowered by The Zacks Investment Research

Today, Safe Bulkers Inc. (SB) Lowered by The Zacks Investment Research

Zacks Investment Research lowered shares of Safe Bulkers Inc. (NYSE:SB) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “SAFE BULKERS is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest consumers of marine drybulk transportation services. “

Other analysts also recently issued research reports about the stock. Clarkson Capital reaffirmed a neutral rating on shares of Safe Bulkers in a research report on Monday, October 31st. Jefferies Group reissued a hold rating on shares of Safe Bulkers in a research report on Monday, September 12th. Seaport Global Securities assumed coverage on shares of Safe Bulkers in a research report on Tuesday, August 2nd. They set a neutral rating and a $1.00 price target for the company. Morgan Stanley set a $1.20 price target on shares of Safe Bulkers and gave the stock a hold rating in a research report on Monday, August 1st. Finally, Credit Suisse Group AG downgraded shares of Safe Bulkers from a neutral rating to an underperform rating and set a $1.00 price target for the company. in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Safe Bulkers currently has a consensus rating of Hold and an average target price of $1.09.

Shares of Safe Bulkers (NYSE:SB) opened at 1.58 on Thursday. The company has a 50-day moving average of $1.43 and a 200 day moving average of $1.28. The stock’s market cap is $132.09 million. Safe Bulkers has a 52-week low of $0.30 and a 52-week high of $2.38.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Monday, October 31st. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). Safe Bulkers had a negative net margin of 75.21% and a negative return on equity of 6.57%. The company earned $27.10 million during the quarter, compared to the consensus estimate of $26.98 million. During the same quarter last year, the company earned ($0.12) earnings per share. Safe Bulkers’s revenue for the quarter was down 19.1% on a year-over-year basis. Equities research analysts forecast that Safe Bulkers will post ($0.62) EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new position in shares of Safe Bulkers during the second quarter valued at about $1,435,000. Phoenix Investment Adviser LLC purchased a new position in shares of Safe Bulkers during the second quarter valued at about $250,000. Paloma Partners Management Co purchased a new position in shares of Safe Bulkers during the second quarter valued at about $147,000. Kopernik Global Investors LLC boosted its position in shares of Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the company’s stock valued at $4,548,000 after buying an additional 24,453 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock valued at $485,000 after buying an additional 18,803 shares during the period. Hedge funds and other institutional investors own 11.46% of the company’s stock.

About Safe Bulkers

Safe Bulkers, Inc (Safe Bulkers) is a holding company. The Company’s primary business is the acquisition, ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, primarily coal, grain and iron ore, along across the world shipping routes.

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