Safe Bulkers (NYSE:SB) Reaches New 52-Week High at $4.50

Safe Bulkers, Inc. (NYSE:SB) shares hit a new 52-week high on Monday . The company traded as high as $4.50 and last traded at $4.45, with a volume of 8670 shares changing hands. The stock had previously closed at $4.13.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Safe Bulkers from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 23rd. HC Wainwright began coverage on shares of Safe Bulkers in a research report on Monday. They issued a “buy” rating and a $6.50 price objective on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $4.19.

The stock’s 50-day moving average price is $3.63 and its 200 day moving average price is $3.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.53 and a quick ratio of 2.39. The firm has a market cap of $585.49 million, a P/E ratio of 10.00 and a beta of 0.84.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Tuesday, July 27th. The shipping company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. The business had revenue of $78.15 million for the quarter, compared to analyst estimates of $70.27 million. Safe Bulkers had a net margin of 26.06% and a return on equity of 13.41%. As a group, analysts forecast that Safe Bulkers, Inc. will post 1.18 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Safe Bulkers during the second quarter worth $523,000. Goldman Sachs Group Inc. increased its holdings in shares of Safe Bulkers by 39.8% in the first quarter. Goldman Sachs Group Inc. now owns 305,634 shares of the shipping company’s stock valued at $749,000 after purchasing an additional 86,961 shares during the last quarter. Barclays PLC increased its holdings in shares of Safe Bulkers by 521.0% in the first quarter. Barclays PLC now owns 135,063 shares of the shipping company’s stock valued at $331,000 after purchasing an additional 113,313 shares during the last quarter. UBS Group AG increased its holdings in shares of Safe Bulkers by 437.4% in the first quarter. UBS Group AG now owns 53,091 shares of the shipping company’s stock valued at $130,000 after purchasing an additional 43,212 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Safe Bulkers by 67.6% in the first quarter. Nuveen Asset Management LLC now owns 426,306 shares of the shipping company’s stock valued at $1,044,000 after purchasing an additional 171,923 shares during the last quarter. Institutional investors and hedge funds own 27.70% of the company’s stock.

Safe Bulkers Company Profile (NYSE:SB)

Safe Bulkers, Inc is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels.

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