Jefferies Financial Group Comments on Safe Bulkers, Inc.’s FY2018 Earnings (SB)

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Safe Bulkers, Inc. (NYSE:SB) – Stock analysts at Jefferies Financial Group lowered their FY2018 earnings per share (EPS) estimates for shares of Safe Bulkers in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will post earnings per share of $0.22 for the year, down from their previous estimate of $0.27. Jefferies Financial Group also issued estimates for Safe Bulkers’ FY2019 earnings at $0.49 EPS.

A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded Safe Bulkers from a “hold” rating to a “strong sell” rating in a report on Thursday, October 4th. TheStreet downgraded Safe Bulkers from a “c-” rating to a “d+” rating in a report on Thursday, September 6th. 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 report on Thursday, October 18th. They noted that the move was a valuation call. ValuEngine downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, Maxim Group restated a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Safe Bulkers currently has a consensus rating of “Hold” and an average price target of $3.88.

Safe Bulkers stock opened at $2.53 on Wednesday. The stock has a market capitalization of $258.96 million, a PE ratio of -15.81 and a beta of 2.39. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.08. Safe Bulkers has a 12 month low of $2.31 and a 12 month high of $3.99.

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of Safe Bulkers by 20.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock valued at $10,696,000 after buying an additional 542,822 shares during the period. BlackRock Inc. raised its holdings in shares of Safe Bulkers by 13.1% during the 2nd quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock valued at $8,760,000 after buying an additional 298,282 shares during the period. Millennium Management LLC raised its holdings in shares of Safe Bulkers by 97.7% during the 2nd quarter. Millennium Management LLC now owns 999,095 shares of the shipping company’s stock valued at $3,397,000 after buying an additional 493,652 shares during the period. UBS Group AG raised its holdings in shares of Safe Bulkers by 14.9% during the 1st quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock valued at $2,385,000 after buying an additional 97,344 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Safe Bulkers by 5.0% during the 2nd quarter. Northern Trust Corp now owns 424,684 shares of the shipping company’s stock valued at $1,444,000 after buying an additional 20,129 shares during the period. Institutional investors and hedge funds own 21.23% of the company’s stock.

About Safe Bulkers

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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Earnings History and Estimates for Safe Bulkers (NYSE:SB)

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