Safe Bulkers, Inc. (SB) Receives $3.92 Consensus Target Price from Analysts
Safe Bulkers, Inc. (NYSE:SB) has received an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $3.92.
SB has been the topic of several research reports. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Maxim Group dropped their price objective on shares of Safe Bulkers to $3.50 and set a “buy” rating on the stock in a report on Wednesday, February 20th.
Several large investors have recently bought and sold shares of SB. Northern Trust Corp increased 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 worth $1,444,000 after purchasing an additional 20,129 shares during the period. American Century Companies Inc. bought a new position in shares of Safe Bulkers during the 3rd quarter worth about $889,000. Dupont Capital Management Corp bought a new position in shares of Safe Bulkers during the 3rd quarter worth about $309,000. ClariVest Asset Management LLC bought a new position in shares of Safe Bulkers during the 3rd quarter worth about $121,000. Finally, BlackRock Inc. increased its holdings in shares of Safe Bulkers by 0.9% during the 3rd quarter. BlackRock Inc. now owns 2,598,647 shares of the shipping company’s stock worth $7,484,000 after purchasing an additional 22,235 shares during the period. Institutional investors own 19.22% of the company’s stock.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, February 19th. The shipping company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $52.57 million during the quarter, compared to the consensus estimate of $52.04 million. Safe Bulkers had a return on equity of 6.30% and a net margin of 14.19%. On average, research analysts expect that Safe Bulkers will post 0.2 EPS for the current fiscal year.
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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