Jefferies analyst Randy Giveans maintained a Hold rating on Safe Bulkers (SB) yesterday and set a price target of $3.00. The company’s shares closed last Tuesday at $3.03, close to its 52-week high of $3.15.
According to TipRanks.com, Giveans is a 4-star analyst with an average return of 15.6% and a 51.5% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as ZIM Integrated Shipping Services, Navios Maritime Partners, and Nordic American Tanker.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Safe Bulkers with a $3.25 average price target.
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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.
