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H.C. Wainwright Sticks to Its Buy Rating for Safe Bulkers (SB)

In a report released today, Magnus Fyhr from H.C. Wainwright reiterated a Buy rating on Safe Bulkers (SBResearch Report), with a price target of $6.50. The company’s shares closed last Thursday at $4.56.

According to TipRanks.com, Fyhr is a 5-star analyst with an average return of 18.4% and a 66.9% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Performance Shipping.

Currently, the analyst consensus on Safe Bulkers is a Hold with an average price target of $4.83.

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Based on Safe Bulkers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $92.44 million and net profit of $65.21 million. In comparison, last year the company earned revenue of $52.23 million and had a net profit of $7.61 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.

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