Safe Bulkers, Inc. (NYSE:SB) Expected to Announce Quarterly Sales of $80.24 Million

Wall Street brokerages expect that Safe Bulkers, Inc. (NYSE:SBGet Rating) will report sales of $80.24 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made 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 during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, 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 year, analysts forecast that the company will post 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:SBGet Rating) last posted its quarterly earnings results on Wednesday, May 25th. The shipping company reported $0.24 earnings per share (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 last year, the business earned $0.14 EPS.

Several brokerages have weighed in on SB. Jefferies Financial Group initiated coverage on Safe Bulkers in a research report on Wednesday, April 27th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Tuesday, March 29th. Finally, StockNews.com assumed coverage on Safe Bulkers in a research report on Thursday, March 31st. They set a “buy” rating for the company.

SB stock traded up $0.21 during trading hours on Friday, hitting $4.77. 2,054,465 shares of the stock traded hands, compared to its average volume of 1,385,348. Safe Bulkers has a one year low of $2.98 and a one year high of $5.44. The company has a market cap of $580.23 million, a P/E ratio of 3.41 and a beta of 0.72. The company has a current ratio of 1.40, a quick ratio of 1.30 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $4.32 and a 200 day simple moving average of $4.02.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, June 7th. Safe Bulkers’s payout ratio is presently 3.57%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. acquired a new position in Safe Bulkers during the first quarter worth $28,000. Citigroup Inc. boosted its position in Safe Bulkers by 176.5% during the third quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock worth $37,000 after purchasing an additional 4,608 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Safe Bulkers in the first quarter valued at approximately $37,000. Advisor Group Holdings Inc. boosted its position in shares of Safe Bulkers by 1,074.3% in the first quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 7,520 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Safe Bulkers by 1,559.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 9,741 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 9,154 shares in the last quarter. Hedge funds and other institutional investors own 24.94% of the company’s stock.

Safe Bulkers Company Profile (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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