Wall Street analysts expect Safe Bulkers, Inc. (NYSE:SB – Get Rating) to report $80.24 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Safe Bulkers’ earnings, with the lowest sales estimate coming in at $75.87 million and the highest estimate coming in at $84.60 million. Safe Bulkers posted sales of $78.15 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Safe Bulkers will report full year sales of $338.80 million for the current fiscal year, with estimates ranging from $322.09 million to $355.50 million. For the next financial year, analysts anticipate that the business will report sales of $325.22 million, with estimates ranging from $297.73 million to $352.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Safe Bulkers.
Safe Bulkers (NYSE:SB – Get Rating) last posted its quarterly earnings results on Wednesday, May 25th. The shipping company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). Safe Bulkers had a net margin of 52.99% and a return on equity of 26.49%. During the same period in the previous year, the firm posted $0.14 earnings per share.
Several large investors have recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Safe Bulkers by 97.4% in the first quarter. Morgan Stanley now owns 246,015 shares of the shipping company’s stock valued at $603,000 after purchasing an additional 121,389 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Safe Bulkers in the third quarter valued at approximately $452,000. BlackRock Inc. raised its stake in Safe Bulkers by 12.3% in the third quarter. BlackRock Inc. now owns 3,211,652 shares of the shipping company’s stock valued at $16,605,000 after purchasing an additional 351,790 shares in the last quarter. Barclays PLC raised its stake in shares of Safe Bulkers by 31.7% during the third quarter. Barclays PLC now owns 214,211 shares of the shipping company’s stock worth $1,107,000 after acquiring an additional 51,584 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Safe Bulkers by 176.5% in the third quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock worth $37,000 after buying an additional 4,608 shares during the period. 24.94% of the stock is currently owned by institutional investors.
Shares of SB stock traded up $0.21 on Friday, hitting $4.77. 2,054,465 shares of the stock traded hands, compared to its average volume of 1,385,348. The company has a market capitalization of $580.23 million, a PE ratio of 3.41 and a beta of 0.72. The company’s fifty day moving average is $4.32 and its 200 day moving average is $4.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.30. Safe Bulkers has a 1-year low of $2.98 and a 1-year high of $5.44.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, June 7th. Safe Bulkers’s payout ratio is 3.57%.
About Safe Bulkers (Get Rating)
Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.
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