Safe Bulkers (NYSE:SB) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Safe Bulkers from “strong-buy” to “buy,” while shares recently traded at $7.83, near their 12-month high of $8.05.
• Safe Bulkers reported quarterly EPS of $0.28, beating estimates of $0.22, and revenue of $87.47 million, above the $77.50 million consensus forecast.
• Institutional investors own 21.69% of the company, with several firms—including AQR Capital Management and Goldman Sachs—recently increasing their positions.

Safe Bulkers (NYSE:SB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Safe Bulkers Trading Down 1.6%

Shares of NYSE SB opened at $7.83 on Friday. Safe Bulkers has a twelve month low of $3.86 and a twelve month high of $8.05. The stock has a market cap of $796.92 million, a price-to-earnings ratio of 10.03 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The company's fifty day moving average is $6.84 and its 200-day moving average is $6.44.

Safe Bulkers (NYSE:SB - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The shipping company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.06. The business had revenue of $87.47 million during the quarter, compared to analysts' expectations of $77.50 million. Safe Bulkers had a net margin of 28.29% and a return on equity of 9.63%.

Hedge Funds Weigh In On Safe Bulkers

Several institutional investors have recently modified their holdings of SB. AQR Capital Management LLC grew its position in shares of Safe Bulkers by 67.0% in the 1st quarter. AQR Capital Management LLC now owns 68,052 shares of the shipping company's stock valued at $251,000 after purchasing an additional 27,292 shares during the period. Goldman Sachs Group Inc. raised its holdings in Safe Bulkers by 6.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,630,636 shares of the shipping company's stock worth $6,017,000 after buying an additional 91,662 shares during the period. Empowered Funds LLC lifted its stake in Safe Bulkers by 5.4% in the first quarter. Empowered Funds LLC now owns 576,229 shares of the shipping company's stock valued at $2,126,000 after buying an additional 29,667 shares in the last quarter. Jane Street Group LLC lifted its stake in Safe Bulkers by 3.7% in the first quarter. Jane Street Group LLC now owns 135,870 shares of the shipping company's stock valued at $501,000 after buying an additional 4,836 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Safe Bulkers in the second quarter valued at approximately $41,000. Institutional investors own 21.69% of the company's stock.

About Safe Bulkers

Safe Bulkers Inc NYSE: SB is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.

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