Gratia Capital LLC recently announced the acquisition of new stake in Safe Bulkers Inc. (NYSE:SB). This fresh investment now brings its stake to 0.80% valued currently at $3.48 million. In addition, Millennium Management LLC raised its holdings by 0.9 million to 0.95 million shares. And Teachers Advisors LLC has lifted its position by 22.94% or 0.17 million shares – to 0.92 million shares.
With over 1.36 million Safe Bulkers Inc. (SB) shares trading Monday and a closing price of $3.64 on the day, the dollar volume was approximately $4.97 million. The shares have shown a positive half year performance of 20.93% and its price on 05/22/23 gained nearly 1.96%. Currently, there are 113.38M common shares owned by the public and among those 70.49M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SB have a consensus price objective of $5.14. The analysts have set the share’s price value over the next 12 months at a high of $7.10 and a low of $2.85. The average price target is 18.75% above its recent price level and a downside to the estimated low will see the stock lose -27.72% over that period. But an upside of 48.73% will see the stock hit the forecast high price target while median target price for the stock is $5.30.
The top 3 mutual fund holders in Safe Bulkers Inc. are iShares Russell 2000 ETF, Goldman Sachs Small Cap Value Ins, and Avantis US Small Cap Value ETF. iShares Russell 2000 ETF owns 1.53 million shares of the company’s stock, all valued at over $5.62 million. The company sold 22480.0 shares recently to bring their total holdings to about 1.29% of the shares outstanding. Avantis US Small Cap Value ETF bought 4350.0 shares to bring its total holdings to over 0.77 million shares at a value of $2.8 million. Avantis US Small Cap Value ETF now owns shares totaling to 0.65% of the shares outstanding.
Shares of Safe Bulkers Inc. (NYSE: SB) opened at $3.66, up $0.09 from a prior closing price of $3.57. However, the script later moved the day high at 3.7050, up 1.96%. The company’s stock has a 5-day price change of 3.70% and 13.04% over the past three months. SB shares are trading 25.09% year to date (YTD), with the 12-month market performance down to -14.35% lower. It has a 12-month low price of $2.35 and touched a high of $5.12 over the same period. SB has an average intraday trading volume of 922.08K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.98%, 0.42%, and 13.56% respectively.
Institutional ownership of Safe Bulkers Inc. (NYSE: SB) shares accounts for 27.30% of the company’s 113.38M shares outstanding. Mutual fund holders own 10.58%, while other institutional holders and individual stakeholders account for 11.51% and — respectively.
It has a market capitalization of $416.20M and a beta (3y monthly) value of 0.87. The stock’s trailing 12-month PE ratio is 2.69, while the earnings-per-share (ttm) stands at $1.35. The company has a PEG of 0.19 and the debt-to-equity ratio at 0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.77% over the week and 3.01% over the month.
Analysts forecast that Safe Bulkers Inc. (SB) will achieve an EPS of $0.14 for the current quarter, $0.23 for the next quarter and $1.13 for 2024. The lowest estimate earnings-per-share for the quarter is $0.1 while analysts give the company a high EPS estimate of $0.19. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.70%, and 21.88% over the next financial year. EPS should shrink at an annualized rate of 14.00% over the next five years, compared to 27.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Safe Bulkers Inc. (SB) as a “Hold” at a consensus score of 3.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 1 rated it as a “Sell.”
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