Wall Street analysts expect Safety (NYSE:SAFE) to announce $9.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Safety’s earnings, with the highest sales estimate coming in at $10.10 million and the lowest estimate coming in at $9.80 million. The company is scheduled to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that Safety will report full-year sales of $46.20 million for the current financial year, with estimates ranging from $45.29 million to $47.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $63.92 million per share, with estimates ranging from $61.20 million to $66.63 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Safety.
Safety (NYSE:SAFE) last released its earnings results on Thursday, April 26th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.07. The firm had revenue of $11.69 million during the quarter, compared to analyst estimates of $10.79 million. Safety had a net margin of 0.36% and a return on equity of 0.03%.
A number of research firms recently weighed in on SAFE. Zacks Investment Research raised shares of Safety from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Mizuho set a $18.00 target price on shares of Safety and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Ladenburg Thalmann reaffirmed a “buy” rating and set a $20.00 price objective (down from $22.00) on shares of Safety in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.78.
In other news, CFO Geoffrey G. Jervis acquired 33,850 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $16.25 per share, with a total value of $550,062.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jay Sugarman acquired 5,440 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were purchased at an average cost of $18.01 per share, for a total transaction of $97,974.40. The disclosure for this purchase can be found here. Insiders have acquired 87,525 shares of company stock worth $1,517,797 over the last ninety days. Insiders own 1.21% of the company’s stock.
Institutional investors have recently modified their holdings of the business. State Treasurer State of Michigan grew its stake in shares of Safety by 407.2% during the first quarter. State Treasurer State of Michigan now owns 880,000 shares of the company’s stock valued at $14,071,000 after purchasing an additional 706,500 shares during the last quarter. UBS Group AG grew its stake in shares of Safety by 8.2% during the first quarter. UBS Group AG now owns 1,701,811 shares of the company’s stock valued at $27,212,000 after purchasing an additional 128,395 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Safety by 4,799.5% during the first quarter. JPMorgan Chase & Co. now owns 109,455 shares of the company’s stock valued at $1,750,000 after purchasing an additional 107,221 shares during the last quarter. Addison Capital Co bought a new stake in shares of Safety during the fourth quarter valued at approximately $1,370,000. Finally, Two Sigma Investments LP grew its stake in shares of Safety by 312.8% during the fourth quarter. Two Sigma Investments LP now owns 63,949 shares of the company’s stock valued at $1,126,000 after purchasing an additional 48,459 shares during the last quarter. 45.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Safety traded down $0.02, reaching $18.36, during trading hours on Monday, according to MarketBeat. 41,376 shares of the company traded hands, compared to its average volume of 77,647. Safety has a 1-year low of $15.57 and a 1-year high of $20.00.
Safety Company Profile
Safety, Income & Growth Inc (NYSE:SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases.
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