Analysts expect Safe Bulkers, Inc. (NYSE:SB) to report ($0.01) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Safe Bulkers’ earnings, with estimates ranging from ($0.06) to $0.02. Safe Bulkers reported earnings per share of $0.03 during the same quarter last year, which suggests a negative year over year growth rate of 133.3%. The firm is expected to issue its next quarterly earnings report on Tuesday, June 4th.
According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.17 per share for the current financial year, with EPS estimates ranging from ($0.15) to $0.49. For the next fiscal year, analysts expect that the business will report earnings of $0.49 per share, with EPS estimates ranging from $0.14 to $0.79. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, February 19th. The shipping company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $52.57 million for the quarter, compared to analysts’ expectations of $52.04 million. Safe Bulkers had a net margin of 14.19% and a return on equity of 6.30%.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine upgraded Safe Bulkers from a “strong sell” rating to a “sell” rating in a report on Tuesday. Maxim Group dropped their target price on Safe Bulkers to $3.50 and set a “buy” rating on the stock in a report on Wednesday, February 20th. Finally, TheStreet upgraded Safe Bulkers from a “d+” rating to a “c” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Safe Bulkers presently has an average rating of “Hold” and a consensus target price of $3.86.
Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in Safe Bulkers during the 3rd quarter worth approximately $1,993,000. Renaissance Technologies LLC increased its holdings in Safe Bulkers by 6.5% during the 3rd quarter. Renaissance Technologies LLC now owns 3,350,200 shares of the shipping company’s stock worth $9,649,000 after purchasing an additional 204,278 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Safe Bulkers during the 4th quarter worth approximately $218,000. TIAA CREF Investment Management LLC increased its holdings in Safe Bulkers by 59.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock worth $1,919,000 after purchasing an additional 249,270 shares during the last quarter. Finally, MCF Advisors LLC purchased a new stake in Safe Bulkers during the 4th quarter worth approximately $50,000. Institutional investors own 19.22% of the company’s stock.
Shares of NYSE:SB opened at $1.66 on Wednesday. The stock has a market cap of $170.27 million, a P/E ratio of 9.76 and a beta of 1.65. The company has a current ratio of 1.85, a quick ratio of 1.78 and a debt-to-equity ratio of 1.16. Safe Bulkers has a one year low of $1.28 and a one year high of $3.90.
Safe Bulkers Company Profile
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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