Morgan Stanley Upgrades Safe Bulkers to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on Safe Bulkers(SB). The shares have been rated Overweight. Previously, the analysts had a Equal-Weight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 28, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 27, 2017, DNB Markets said it Upgrades its rating on Safe Bulkers. The shares have been rated ‘Buy’ by the firm. Stifel Nicolaus said it Initiates Coverage On Safe Bulkers, according to a research note issued on Jan 20, 2017. In the research note, the firm Announces the price-target to $1.5 per share. The shares have been rated ‘Hold’ by the firm.

Safe Bulkers (SB) made into the market gainers list on Fridays trading session with the shares advancing 3.39% or 0.06 points. Due to strong positive momentum, the stock ended at $1.83, which is also near the day’s high of $1.91. The stock began the session at $1.8 and the volume stood at 10,82,896 shares. The 52-week high of the shares is $2.38 and the 52 week low is $0.58. The company has a current market capitalization of $182 M and it has 9,92,77,715 shares in outstanding.

Safe Bulkers(SB) last announced its earnings results on Feb 23, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $31.710M. Analysts had an estimated revenue of $30.500M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.11.

Safe Bulkers Inc. (Safe Bulkers) is a holding company. The Company’s principal business is the acquisition ownership and operation of drybulk vessels. The Company is an international provider of marine drybulk transportation services transporting bulk cargoes particularly coal grain and iron ore along worldwide shipping routes. The Company’s fleet comprises 33 vessels of which 12 are Panamax class vessels seven are Kamsarmax class vessels 11 are Post-Panamax class vessels and three are Capesize class vessels with an aggregate carrying capacity of 3019700 deadweight tons (dwt) and an average age of 5.8 years. The Company deploys its vessels on a mix of period time and spot time charters. The Company has 45 wholly owned subsidiaries 24 of which are incorporated in Liberia and 21 in the Republic of the Marshall Islands.

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