Safe Bulkers (SB) Upgraded by Jefferies Financial Group to “Buy”

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Jefferies Financial Group upgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a buy rating in a report released on Friday, Marketbeat reports. Jefferies Financial Group currently has $4.00 price objective on the shipping company’s stock. Jefferies Financial Group also issued estimates for Safe Bulkers’ FY2018 earnings at $0.20 EPS.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Safe Bulkers from a hold rating to a strong sell rating in a research note on Wednesday, August 1st. ValuEngine lowered Safe Bulkers from a hold rating to a sell rating in a research note on Tuesday, August 28th. Seaport Global Securities raised Safe Bulkers from a neutral rating to a buy rating and raised their price objective for the company from $3.50 to $5.00 in a research note on Tuesday, July 31st. Evercore ISI raised Safe Bulkers from an in-line rating to an outperform rating and raised their price objective for the company from $4.00 to $4.50 in a research note on Thursday, October 18th. They noted that the move was a valuation call. Finally, Maxim Group reaffirmed a buy rating and issued a $6.00 price objective on shares of Safe Bulkers in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Safe Bulkers has a consensus rating of Hold and an average target price of $4.21.

NYSE:SB traded down $0.10 during trading hours on Friday, hitting $2.37. The company’s stock had a trading volume of 340,175 shares, compared to its average volume of 297,272. The firm has a market capitalization of $251.85 million, a PE ratio of -14.81 and a beta of 2.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.08. Safe Bulkers has a twelve month low of $2.31 and a twelve month high of $3.99.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Wednesday, November 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $50.10 million during the quarter, compared to analyst estimates of $48.08 million. Safe Bulkers had a net margin of 11.41% and a return on equity of 25.18%. On average, analysts anticipate that Safe Bulkers will post 0.21 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of SB. Renaissance Technologies LLC raised its position in Safe Bulkers by 20.9% in the second 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 during the last quarter. Millennium Management LLC raised its position in Safe Bulkers by 97.7% in the second 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 during the last quarter. American Century Companies Inc. bought a new position in Safe Bulkers in the third quarter valued at about $889,000. BlackRock Inc. raised its position in Safe Bulkers by 13.1% in the second 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 during the last quarter. Finally, Dupont Capital Management Corp bought a new position in Safe Bulkers in the third quarter valued at about $309,000. Hedge funds and other institutional investors own 21.16% of the company’s stock.

Safe Bulkers Company Profile

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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Analyst Recommendations for Safe Bulkers (NYSE:SB)

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