Safe Bulkers (NYSE:SB) Stock Price Up 5.8%

Safe Bulkers, Inc. (NYSE:SB) shares rose 5.8% on Friday . The company traded as high as $1.85 and last traded at $1.83, approximately 194,700 shares changed hands during mid-day trading. A decline of 42% from the average daily volume of 333,992 shares. The stock had previously closed at $1.73.

SB has been the topic of a number of research analyst reports. ValuEngine lowered shares of Safe Bulkers from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Safe Bulkers from a “hold” rating to a “strong-buy” rating and set a $2.50 price target on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Safe Bulkers currently has an average rating of “Buy” and an average target price of $3.63.

The stock’s 50 day moving average price is $1.92 and its 200 day moving average price is $1.64. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11. The firm has a market cap of $185.32 million, a PE ratio of 10.76 and a beta of 1.75.



Safe Bulkers (NYSE:SB) last issued its earnings results on Tuesday, May 28th. The shipping company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Safe Bulkers had a net margin of 13.56% and a return on equity of 6.18%. The business had revenue of $48.29 million for the quarter, compared to the consensus estimate of $44.69 million. Analysts forecast that Safe Bulkers, Inc. will post 0.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SB. Susquehanna International Group LLP purchased a new position in shares of Safe Bulkers in the 2nd quarter valued at $35,000. Marshall Wace North America L.P. purchased a new position in shares of Safe Bulkers in the 2nd quarter valued at $48,000. Parametric Portfolio Associates LLC raised its stake in shares of Safe Bulkers by 73.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock valued at $172,000 after acquiring an additional 46,480 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Safe Bulkers by 19.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock valued at $172,000 after acquiring an additional 18,302 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Safe Bulkers by 4.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock valued at $250,000 after acquiring an additional 7,065 shares during the period. 16.34% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile (NYSE:SB)

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

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