Maxim Group analyst James Jang assigned a Buy rating to Safe Bulkers (NYSE: SB) today and set a price target of $5.50. The company’s shares opened today at $3.10.
Jang wrote:
“Safe Bulkers (SB) reported 1Q18 results with net revenue of $42 million, net income of $3.1 million, and operating EPS of $0.03, all ahead of our, and consensus expectations.”
According to TipRanks.com, Jang is a 5-star analyst with an average return of 25.4% and a 48.8% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Safe Bulkers has an analyst consensus of Moderate Buy, with a price target consensus of $4.08.
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The company has a one-year high of $4.00 and a one-year low of $1.76. Currently, Safe Bulkers has an average volume of 482.5K.
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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.
