
Safe Bulkers (SB) Stock Forecast & Price Target
Safe Bulkers (SB) Analyst Ratings
Bulls say
Safe Bulkers Inc. demonstrated strong financial performance, reporting an adjusted EBITDA of $29.4 million, surpassing both the $27.2 million consensus and the company's own forecast of $26.3 million. The company's strategic use of both spot and period charters has enabled it to maintain profitability during challenging market conditions, characterized by below break-even rates, while also providing substantial revenue visibility with a backlog totaling $179 million. Additionally, the fleet's average time charter equivalent (TCE) of $14,655 per day exceeded expectations of $14,100 per day, contributing to the favorable financial outcome.
Bears say
Safe Bulkers Inc. currently exhibits a net loan-to-value (net-LTV) ratio of 37.5% and a reduced net debt per vessel of $8.5 million, down from $9.3 million a year ago; however, these improvements do not sufficiently offset concerns regarding the company's financial performance. The company's exposure to weaker spot market conditions is highlighted by average spot rates for its Kamsarmax/Panamax fleet, which remained below $10,000 per day during the seasonally weaker first quarter. Furthermore, despite reducing its share count by approximately 14% through buybacks, Safe Bulkers continues to trade below its assessed net asset value (NAV) of $8.40 per share, indicating ongoing challenges in generating shareholder value.
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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