Brokerages expect that Safe Bulkers, Inc. (NYSE:SB) will report $51.32 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Safe Bulkers’ earnings, with the highest sales estimate coming in at $52.12 million and the lowest estimate coming in at $50.52 million. Safe Bulkers posted sales of $52.57 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The firm is expected to report its next quarterly earnings report on Tuesday, February 18th.
According to Zacks, analysts expect that Safe Bulkers will report full-year sales of $185.52 million for the current year, with estimates ranging from $184.65 million to $186.38 million. For the next financial year, analysts forecast that the company will report sales of $230.63 million, with estimates ranging from $229.70 million to $231.55 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Thursday, October 24th. The shipping company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.02). Safe Bulkers had a return on equity of 4.92% and a net margin of 11.05%. The firm had revenue of $47.13 million during the quarter, compared to analyst estimates of $48.67 million.
A number of equities research analysts recently weighed in on SB shares. Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. ValuEngine lowered Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, November 8th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in Safe Bulkers by 4.3% during the second quarter. Renaissance Technologies LLC now owns 3,596,495 shares of the shipping company’s stock worth $5,611,000 after acquiring an additional 148,795 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Safe Bulkers by 0.4% in the second quarter. BlackRock Inc. now owns 2,561,522 shares of the shipping company’s stock valued at $3,996,000 after buying an additional 9,360 shares during the period. State Street Corp increased its position in shares of Safe Bulkers by 6.0% during the third quarter. State Street Corp now owns 763,116 shares of the shipping company’s stock worth $1,335,000 after acquiring an additional 42,973 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Safe Bulkers by 3.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 664,886 shares of the shipping company’s stock worth $1,038,000 after acquiring an additional 23,117 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Safe Bulkers by 5.8% during the third quarter. California Public Employees Retirement System now owns 484,900 shares of the shipping company’s stock worth $849,000 after acquiring an additional 26,600 shares in the last quarter. Institutional investors and hedge funds own 16.56% of the company’s stock.
Shares of NYSE SB traded up $0.01 during mid-day trading on Tuesday, hitting $1.70. The company’s stock had a trading volume of 115,357 shares, compared to its average volume of 229,947. The stock has a market cap of $171.15 million, a price-to-earnings ratio of 10.00 and a beta of 1.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.35 and a quick ratio of 1.35. Safe Bulkers has a one year low of $1.28 and a one year high of $2.38. The company’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $1.79.
About Safe Bulkers
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.
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