Safe Bulkers (NYSE:SB) Lowered to Hold at Zacks Investment Research

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

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. “

SB has been the topic of a number of other reports. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. TheStreet upgraded shares of Wayside Technology Group from a c rating to a b- rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $3.85.

SB stock opened at $2.26 on Thursday. The stock’s 50-day moving average price is $1.64. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 1.64. Safe Bulkers has a 52-week low of $1.28 and a 52-week high of $3.53. The stock has a market cap of $228.83 million, a price-to-earnings ratio of 13.29 and a beta of 1.80.

Safe Bulkers (NYSE:SB) last posted its earnings results on Tuesday, May 28th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $48.29 million for the quarter, compared to analyst estimates of $44.69 million. Safe Bulkers had a net margin of 13.56% and a return on equity of 6.18%. On average, research analysts expect that Safe Bulkers will post 0.06 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Safe Bulkers by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock valued at $4,749,000 after buying an additional 69,107 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Safe Bulkers by 13.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock worth $526,000 after purchasing an additional 35,228 shares during the period. Geode Capital Management LLC raised its stake in Safe Bulkers by 16.3% during the fourth quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock worth $441,000 after purchasing an additional 34,889 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Safe Bulkers by 16.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,850 shares of the shipping company’s stock worth $293,000 after purchasing an additional 23,775 shares during the period. Finally, Barclays PLC raised its stake in Safe Bulkers by 284.7% during the fourth quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after purchasing an additional 79,168 shares during the period. 16.33% of the stock is currently owned by institutional investors.

About Safe Bulkers

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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