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

Safe Bulkers (NYSE:SB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “

A number of other equities analysts also recently commented on SB. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $3.85.

NYSE:SB opened at $2.26 on Thursday. The stock has a 50 day moving average price of $1.64. Safe Bulkers has a 52 week low of $1.28 and a 52 week high of $3.53. The firm has a market capitalization of $210.60 million, a P/E ratio of 13.29 and a beta of 1.80. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.11.

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

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in Safe Bulkers by 40.6% during the fourth quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock worth $124,000 after purchasing an additional 20,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position 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. Geode Capital Management LLC boosted its position 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. D. E. Shaw & Co. Inc. boosted its position 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. Finally, BlackRock Inc. boosted its position in Safe Bulkers by 2.7% during the fourth quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock worth $4,749,000 after purchasing an additional 69,107 shares during the period. 16.33% of the stock is owned by hedge funds and other 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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