
Safe Bulkers (SB) Stock Forecast & Price Target
Safe Bulkers (SB) Analyst Ratings
Bulls say
Safe Bulkers Inc. displayed strong financial performance with an adjusted EBITDA of $29.4 million, surpassing both the consensus estimate of $27.2 million and the company's own forecast of $26.3 million. The company benefits from a strategic mix of spot and period charters, maintaining profitability even amid challenging market conditions characterized by below break-even rates, while boasting a substantial revenue backlog of $179 million. Additionally, the fleet achieved an impressive average time charter equivalent (TCE) of $14,655 per day, exceeding the modeled figure of $14,100 per day, indicating effective revenue generation capabilities.
Bears say
Safe Bulkers Inc. exhibits a concerning financial outlook, characterized by a net loan-to-value (LTV) ratio of 37.5% and a reduction in net debt per vessel to $8.5 million, which, while lower than the previous year's $9.3 million, may still indicate challenges in leveraging assets effectively. The company's limited exposure to favorable spot rates, as evidenced by Kamsarmax/Panamax heavy fleet rates averaging below $10,000 per day during the seasonally softer first quarter, raises concerns about revenue volatility in a fluctuating shipping market. Additionally, despite a share count reduction of approximately 14% through buybacks over the last three years, the company's stock continues to trade below its assessed net asset value (NAV) of $8.40 per share, suggesting potential undervaluation or weak market confidence.
This aggregate rating is based on analysts' research of Safe Bulkers and is not a guaranteed prediction by Public.com or investment advice.
Safe Bulkers (SB) Analyst Forecast & Price Prediction
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