Morgan Stanley Maintains Safe Bulkers to Equal-weight with Price Target $1.20

Brokerage firm Morgan Stanley Maintains its rating on Safe Bulkers(NYSE:SB). In a research note issued to the investors, the brokerage major Raises the price-target to $1.20 per share. The shares have been rated Equal-weight. The rating by Morgan Stanley was issued on Aug 1, 2016.

In a different note, On Jul 29, 2016, Credit Suisse said it Downgrades its rating on Safe Bulkers. The shares have been rated ‘Underperform’ by the firm.

Safe Bulkers (SB) made into the market gainers list on Mondays trading session with the shares advancing 9.38% or 0.12 points. Due to strong positive momentum, the stock ended at $1.4, which is also near the day’s high of $1.42. The stock began the session at $1.28 and the volume stood at 2,62,304 shares. The 52-week high of the shares is $3.75 and the 52 week low is $0.2957. The company has a current market capitalization of $117 M and it has 8,34,77,862 shares in outstanding.

Safe Bulkers(SB) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $26.24M. Analysts had an estimated revenue of $29.20M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.16.

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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