Safe Bulkers' (SB) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Safe Bulkers' stock retains a "Hold (C)" rating from Weiss Ratings, while Zacks Research upgraded it from "strong sell" to "hold," indicating mixed sentiments among analysts.
• The current average price target for Safe Bulkers' stock is $4.47, with reported earnings per share of $0.01, falling short of the $0.08 estimate.
• Institutional ownership stands at 21.69%, with multiple firms acquiring new positions in the company during the second quarter, suggesting growing interest from major investors.

Safe Bulkers (NYSE:SB - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Zacks Research raised Safe Bulkers from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.47.

Safe Bulkers Price Performance

Shares of NYSE SB opened at $4.36 on Wednesday. Safe Bulkers has a 1-year low of $3.02 and a 1-year high of $4.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. The business's fifty day moving average price is $4.36 and its two-hundred day moving average price is $3.92. The firm has a market capitalization of $446.12 million, a PE ratio of 10.14 and a beta of 1.28.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Regatta Capital Group LLC acquired a new position in shares of Safe Bulkers during the second quarter valued at $36,000. Tower Research Capital LLC TRC grew its holdings in Safe Bulkers by 73.4% during the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company's stock worth $40,000 after acquiring an additional 4,692 shares during the period. Cetera Investment Advisers acquired a new position in Safe Bulkers during the second quarter worth about $41,000. Evergreen Capital Management LLC acquired a new position in Safe Bulkers during the second quarter worth about $46,000. Finally, Aigen Investment Management LP acquired a new position in Safe Bulkers during the first quarter worth about $49,000. 21.69% of the stock is owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

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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