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Safe Bulkers Inc. Decreased by The Zacks Investment Research

Zacks Investment Research cut shares of Safe Bulkers Inc. from a buy rating to a hold rating in a research report released on Saturday morning.

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. “

Other research analysts have also recently issued research reports about the stock. Morgan Stanley set a $1.20 price objective on shares of Safe Bulkers and gave the company a hold rating in a report on Monday, August 1st. Jefferies Group reiterated a hold rating on shares of Safe Bulkers in a report on Monday, September 12th. Clarkson Capital reiterated a neutral rating on shares of Safe Bulkers in a report on Monday, October 31st. Seaport Global Securities began coverage on shares of Safe Bulkers in a report on Tuesday, August 2nd. They set a neutral rating and a $1.00 price target for the company. Finally, Credit Suisse Group AG cut shares of Safe Bulkers from a neutral rating to an underperform rating and set a $1.00 price target for the company. in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $1.04.

Shares of Safe Bulkers (NYSE:SB) opened at 1.25 on Friday. The firm’s market cap is $104.33 million. Safe Bulkers has a 1-year low of $0.30 and a 1-year high of $3.13. The stock has a 50 day moving average of $1.41 and a 200-day moving average of $1.23.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Monday, October 31st. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). The firm earned $27.10 million during the quarter, compared to analysts’ expectations of $26.98 million. Safe Bulkers had a negative net margin of 75.21% and a negative return on equity of 6.57%. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Equities analysts anticipate that Safe Bulkers will post ($0.61) EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Phoenix Investment Adviser LLC increased its stake in shares of Safe Bulkers by 43.0% in the third quarter. Phoenix Investment Adviser LLC now owns 340,120 shares of the company’s stock valued at $480,000 after buying an additional 102,232 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Safe Bulkers during the second quarter valued at $147,000. Parametric Portfolio Associates LLC increased its stake in shares of Safe Bulkers by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 461,948 shares of the company’s stock valued at $485,000 after buying an additional 18,803 shares in the last quarter. Kopernik Global Investors LLC increased its stake in shares of Safe Bulkers by 0.6% in the second quarter. Kopernik Global Investors LLC now owns 4,331,124 shares of the company’s stock valued at $4,548,000 after buying an additional 24,453 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Safe Bulkers during the second quarter valued at $1,435,000. Institutional investors and hedge funds own 12.32% of the company’s stock.
Source: Zacks

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