In a report released today, Randy Giveans from Jefferies maintained a Hold rating on Safe Bulkers (SB), with a price target of $3.50. The company’s shares closed last Thursday at $3.91, close to its 52-week high of $4.30.
According to TipRanks.com, Giveans is a 4-star analyst with an average return of 19.2% and a 56.5% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and Nordic American Tanker.
Safe Bulkers has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.
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Based on Safe Bulkers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $52.23 million and net profit of $7.61 million. In comparison, last year the company earned revenue of $53.25 million and had a net profit of $3.55 million.
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Safe Bulkers, Inc. is a holding company, which engages in the ownership and operation of dry bulk vessels. It also offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels. The company was founded on December 11, 2007 and is headquartered in Athens, Greece.