Safe Bulkers

SB · NYSE

$7.83+$0.04 (+0.51%)TodayMarket closed · Oct 21, 4:45 AM ET

Prev close $7.79

SB analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $8.98 (+14.6% upside)

Low: $7.88
Now: $7.83
High: $10.29

Upgrades and downgrades

The latest rating actions, newest first

SB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jefferies	Nov 26, 2025	Maintains	Buy	$5.00 → $6.00	72%

The case for and against

Updated Nov 7, 2025

Bull case

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.

Bear case

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.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.