Safe Bulkers (NYSE:SB) Upgraded at Zacks Research

Key Points

• Safe Bulkers has been upgraded by Zacks Research from a "strong sell" rating to a "hold" rating, indicating a potential improvement in stock outlook.
• The company's quarterly earnings report showed a loss of $0.07 per share compared to analyst expectations, despite a revenue of $65.75 million, which surpassed estimates.
• Institutional ownership of Safe Bulkers has increased, with several firms acquiring positioning in the company during the 2nd quarter, bringing institutional ownership to 21.69%.

Safe Bulkers (NYSE:SB - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Safe Bulkers Stock Down 1.7%

Shares of SB opened at $4.45 on Monday. Safe Bulkers has a 52 week low of $3.02 and a 52 week high of $5.21. The firm has a market cap of $454.81 million, a P/E ratio of 10.34 and a beta of 1.30. The firm's 50-day simple moving average is $4.33 and its 200 day simple moving average is $3.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70.

Safe Bulkers (NYSE:SB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The shipping company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.07). Safe Bulkers had a net margin of 19.25% and a return on equity of 5.80%. The company had revenue of $65.75 million during the quarter, compared to analyst estimates of $60.40 million. On average, analysts forecast that Safe Bulkers will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Regatta Capital Group LLC acquired a new position in Safe Bulkers in the 2nd quarter valued at about $36,000. Tower Research Capital LLC TRC grew its position in shares of Safe Bulkers by 73.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company's stock worth $40,000 after purchasing an additional 4,692 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Safe Bulkers during the 2nd quarter worth approximately $41,000. Evergreen Capital Management LLC acquired a new position in shares of Safe Bulkers during the 2nd quarter worth approximately $46,000. Finally, Aigen Investment Management LP acquired a new position in shares of Safe Bulkers during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 21.69% of the company's stock.

About Safe Bulkers

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.

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