ValuEngine Lowers Safe Bulkers (NYSE:SB) to Sell

ValuEngine lowered shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a report issued on Friday, November 8th, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Safe Bulkers from a sell rating to a hold rating in a research note on Wednesday, November 6th.

SB stock traded down $0.03 during trading hours on Friday, reaching $1.65. The stock had a trading volume of 148,061 shares, compared to its average volume of 320,424. The stock has a market capitalization of $167.10 million, a PE ratio of 9.71 and a beta of 1.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a 50-day simple moving average of $1.74 and a 200 day simple moving average of $1.78. Safe Bulkers has a fifty-two week low of $1.28 and a fifty-two week high of $2.38.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Thursday, October 24th. The shipping company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $47.13 million during the quarter, compared to analyst estimates of $48.67 million. Safe Bulkers had a net margin of 11.05% and a return on equity of 4.92%. On average, sell-side analysts forecast that Safe Bulkers will post 0.1 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of Safe Bulkers by 206.4% during the 3rd quarter. SG Americas Securities LLC now owns 79,387 shares of the shipping company’s stock worth $139,000 after buying an additional 53,480 shares during the last quarter. Renaissance Technologies LLC increased its position in Safe Bulkers by 4.3% during the second quarter. Renaissance Technologies LLC now owns 3,596,495 shares of the shipping company’s stock worth $5,611,000 after acquiring an additional 148,795 shares during the period. Ruffer LLP bought a new position in Safe Bulkers during the second quarter worth about $700,000. Rhumbline Advisers increased its position in Safe Bulkers by 9.8% during the third quarter. Rhumbline Advisers now owns 80,092 shares of the shipping company’s stock worth $140,000 after acquiring an additional 7,142 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Safe Bulkers by 19.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock worth $172,000 after acquiring an additional 18,302 shares during the period. Institutional investors own 16.56% of the company’s stock.

Safe Bulkers Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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