Safe Bulkers (NYSE:SB) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Safe Bulkers (NYSE:SB) from a buy rating to a hold rating in a research note issued to investors 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 subject of a number of other reports. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. TheStreet raised 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 assigned a hold rating and four have given a buy rating to the company’s stock. Safe Bulkers presently has an average rating of Buy and a consensus price target of $3.85.

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

Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Tuesday, May 28th. The shipping company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $48.29 million during the quarter, compared to analyst estimates of $44.69 million. Safe Bulkers had a return on equity of 6.18% and a net margin of 13.56%. As a group, research analysts anticipate that Safe Bulkers will post 0.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SB. Rhumbline Advisers grew its stake in Safe Bulkers by 40.6% in the 4th quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 20,183 shares during the period. Barclays PLC grew its stake in Safe Bulkers by 284.7% in the 4th quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock valued at $191,000 after purchasing an additional 79,168 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Safe Bulkers by 16.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,850 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 23,775 shares during the period. Geode Capital Management LLC grew its stake in Safe Bulkers by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock valued at $441,000 after purchasing an additional 34,889 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in Safe Bulkers by 13.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock valued at $526,000 after purchasing an additional 35,228 shares during the period. 16.33% of the stock is owned by institutional investors and hedge funds.

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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