Equities analysts expect Safe Bulkers (NYSE:SB) to post earnings of $0.02 per share for the current quarter, according to Zacks. Three analysts have made estimates for Safe Bulkers’ earnings. The lowest EPS estimate is $0.01 and the highest is $0.03. Safe Bulkers reported earnings of ($0.07) per share during the same quarter last year, which would indicate a positive year over year growth rate of 128.6%. The firm is expected to report its next earnings report on Thursday, May 17th.
According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.19 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.30. For the next year, analysts expect that the firm will post earnings of $0.45 per share, with EPS estimates ranging from $0.36 to $0.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Safe Bulkers.
Safe Bulkers (NYSE:SB) last posted its earnings results on Wednesday, February 14th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $44.00 million during the quarter, compared to the consensus estimate of $38.12 million. Safe Bulkers had a net margin of 3.26% and a return on equity of 16.52%. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share.
SB has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Thursday, January 25th. ValuEngine upgraded shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus set a $3.00 target price on shares of Safe Bulkers and gave the company a “hold” rating in a research report on Monday, April 23rd. Morgan Stanley downgraded shares of Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 target price for the company. in a research report on Monday, February 12th. Finally, TheStreet downgraded shares of Safe Bulkers from a “c” rating to a “d+” rating in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.50.
NYSE SB remained flat at $$3.26 on Friday. 16,821 shares of the company were exchanged, compared to its average volume of 362,503. The firm has a market capitalization of $331.01 million, a P/E ratio of -20.38 and a beta of 1.96. Safe Bulkers has a 52 week low of $3.24 and a 52 week high of $3.33. The company has a quick ratio of 2.03, a current ratio of 2.14 and a debt-to-equity ratio of 1.19.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evermore Global Advisors LLC increased its holdings in Safe Bulkers by 0.7% in the fourth quarter. Evermore Global Advisors LLC now owns 3,735,740 shares of the shipping company’s stock valued at $12,066,000 after buying an additional 25,972 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Safe Bulkers by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,322,800 shares of the shipping company’s stock valued at $7,503,000 after buying an additional 197,838 shares in the last quarter. BlackRock Inc. increased its holdings in Safe Bulkers by 1.0% in the first quarter. BlackRock Inc. now owns 2,278,130 shares of the shipping company’s stock valued at $7,222,000 after buying an additional 23,359 shares in the last quarter. Cortina Asset Management LLC increased its holdings in Safe Bulkers by 35.5% in the fourth quarter. Cortina Asset Management LLC now owns 1,917,543 shares of the shipping company’s stock valued at $6,194,000 after buying an additional 501,958 shares in the last quarter. Finally, Signia Capital Management LLC purchased a new position in Safe Bulkers in the fourth quarter valued at $2,426,000. 22.42% of the stock is owned by institutional investors.
Safe Bulkers Company Profile
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.
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