Jefferies Sticks to Their Buy Rating for Safe Bulkers (SB)


Jefferies analyst Randy Giveans reiterated a Buy rating on Safe Bulkers (SB) on January 24 and set a price target of $3. The company’s shares opened today at $1.76, close to its 52-week low of $1.61.

According to TipRanks.com, Giveans ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.4% and a 19.2% success rate. Giveans covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Teekay LNG Partners, and Golar LNG Partners.

Currently, the analyst consensus on Safe Bulkers is a Moderate Buy with an average price target of $3.83.

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Based on Safe Bulkers’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.08 million. In comparison, last year the company had a GAAP net loss of $86.56 million.

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Safe Bulkers, Inc. operates as a holding company, which engages through its subsidiaries in marine transportation services. The company provides marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the users of such services.

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