New value Analysis of Safe Bulkers Inc (NYSE:SB)
New Value Analysis of Safe Bulkers Inc (NYSE:SB)
A new value analysis of Safe Bulkers Inc (NYSE:SB), a company listed on the New York Stock Exchange, has been added to our research pages here. Safe Bulkers, through its subsidiaries, provides marine drybulk transportation services. SB specialises in transporting bulk cargoes, particularly coal, grain and iron ore.
The Company’s operational fleet is 37 drybulk vessels, with an average age of 6.24 years and an aggregate carrying capacity of 3.3 million dwt. The fleet consists of 14 Panamax class vessels, 8 Kamsarmax class vessels, 12 Post-Panamax class vessels and 3 Capesize class vessels, all built since 2003.
I have analysed the common and preferred D stocks of Safe Bulkers previously in 2015. The premise of the investment case for value investors is roughly the same, but some of the data are different.
Safe Bulkers has a reported loss after impairments and depreciation. A value investor will need to make his or her own judgement about the importance of impairment and depreciation when analysing the earnings exhibit. I do provide guidance in the analysis for different types of value investor when considering an investment in the SB common stock.
The real opportunity for value investors when considering an investment in Safe Bulkers common stock is the relationship between price and book value. The current price is well below the net asset value of the company. There is some risk to this valuation and I provide guidance for the level of risk in the analysis.
To find out why a value investor would consider an investment in Safe Bulkers common stock click here to download the new analysis.
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