Safe Bulkers (NYSE:SB) Trading Up 5.8%

Shares of Safe Bulkers, Inc. (NYSE:SB) were up 5.8% during trading 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.

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

The firm has a market capitalization of $175.20 million, a P/E ratio of 10.76 and a beta of 1.75. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $1.64.

Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, May 28th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $44.69 million. As a group, analysts expect that Safe Bulkers, Inc. will post 0.16 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new stake in Safe Bulkers during the second quarter valued at approximately $35,000. D. E. Shaw & Co. Inc. lifted its position in Safe Bulkers by 3.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 664,886 shares of the shipping company’s stock valued at $1,038,000 after purchasing an additional 23,117 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Safe Bulkers during the second quarter valued at approximately $48,000. BlackRock Inc. lifted its position in Safe Bulkers by 0.4% during the second quarter. BlackRock Inc. now owns 2,561,522 shares of the shipping company’s stock valued at $3,996,000 after purchasing an additional 9,360 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Safe Bulkers by 73.2% during the second quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock valued at $172,000 after purchasing an additional 46,480 shares during the last quarter. Institutional investors and hedge funds own 16.34% of the company’s stock.

About Safe Bulkers (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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