Analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will post earnings of $0.09 per share for the current quarter, according to Zacks. Three analysts have made estimates for Safe Bulkers’ earnings, with estimates ranging from $0.09 to $0.10. Safe Bulkers posted earnings per share of $0.02 during the same quarter last year, which would indicate a positive year over year growth rate of 350%. The company is expected to report its next quarterly earnings results on Wednesday, February 13th.
According to Zacks, analysts expect that Safe Bulkers will report full year earnings of $0.19 per share for the current fiscal year, with EPS estimates ranging from $0.18 to $0.20. For the next fiscal year, analysts expect that the firm will post earnings of $0.52 per share, with EPS estimates ranging from $0.49 to $0.60. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, November 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $50.10 million during the quarter, compared to the consensus estimate of $48.08 million. Safe Bulkers had a net margin of 11.41% and a return on equity of 25.12%.
Several research firms have recently weighed in on SB. Zacks Investment Research upgraded shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 27th. ValuEngine lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Friday, November 9th. TheStreet lowered shares of Safe Bulkers from a “c-” rating to a “d+” rating in a research report on Thursday, September 6th. Finally, Evercore ISI upgraded shares of Safe Bulkers from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $4.00 to $4.50 in a research report on Thursday, October 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.21.
Several large investors have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Safe Bulkers by 375.5% in the first quarter. Millennium Management LLC now owns 505,443 shares of the shipping company’s stock worth $1,602,000 after buying an additional 399,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Safe Bulkers in the second quarter worth about $175,000. Engineers Gate Manager LP acquired a new position in shares of Safe Bulkers in the second quarter worth about $187,000. Russell Investments Group Ltd. acquired a new position in shares of Safe Bulkers in the second quarter worth about $241,000. Finally, BlackRock Inc. boosted its holdings in shares of Safe Bulkers by 13.1% in the second quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock worth $8,760,000 after buying an additional 298,282 shares during the period. Institutional investors own 19.82% of the company’s stock.
Shares of NYSE:SB traded up $0.02 during trading hours on Friday, hitting $1.90. 351,957 shares of the company’s stock traded hands, compared to its average volume of 402,543. Safe Bulkers has a 52 week low of $1.83 and a 52 week high of $3.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.07. The firm has a market cap of $199.05 million, a price-to-earnings ratio of -11.88 and a beta of 2.24.
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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