Investment analysts at Credit Suisse lifted their price objective on shares of Safe Bulkers (NYSE:SB) from $7.00 to $8.00 in a note issued to investors on Tuesday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price would suggest a potential downside of 5.21% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of Safe Bulkers from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $10.00 price target on the stock, up previously from $6.00. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Safe Bulkers in a research note to investors on Tuesday, October 22nd. They now have a $8.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Safe Bulkers from $6.00 to $8.50 in a research note to investors on Tuesday, October 22nd. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $7.67.
Shares of Safe Bulkers (NYSE:SB) traded up 6.30% on Tuesday, hitting $8.44. The stock had a trading volume of 1,055,214 shares. Safe Bulkers has a 52-week low of $3.12 and a 52-week high of $8.25. The stock has a 50-day moving average of $7.11 and a 200-day moving average of $5.84. The company has a market cap of $647.2 million and a P/E ratio of 6.51.
Safe Bulkers (NYSE:SB) last released its earnings data on Monday, November 4th. The company reported $0.14 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.14. The company had revenue of $41.90 million for the quarter, compared to the consensus estimate of $38.16 million. During the same quarter last year, the company posted $0.30 earnings per share. Safe Bulkers’s revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that Safe Bulkers will post $0.70 earnings per share for the current fiscal year.
Safe Bulkers, Inc (NYSE:SB) is an international provider of marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along global shipping routes for some of the global consumers of marine dry bulk transportation services.
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