Wall Street brokerages expect Safe Bulkers, Inc. (NYSE:SB) to post earnings per share of $0.03 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Safe Bulkers’ earnings, with estimates ranging from $0.02 to $0.04. Safe Bulkers reported earnings of $0.05 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 40%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.07 to $0.11. For the next year, analysts forecast that the business will report earnings of $0.48 per share, with EPS estimates ranging from $0.45 to $0.51. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, September 3rd. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Safe Bulkers had a net margin of 12.51% and a return on equity of 5.45%. The company had revenue of $45.52 million for the quarter, compared to the consensus estimate of $45.65 million.
SB has been the subject of several research analyst reports. ValuEngine upgraded shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 5th. Zacks Investment Research downgraded shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $3.63.
Hedge funds have recently bought and sold shares of the business. Ruffer LLP purchased a new position in shares of Safe Bulkers in the second quarter worth $700,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Safe Bulkers by 4.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock worth $250,000 after buying an additional 7,065 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Safe Bulkers by 19.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock worth $172,000 after buying an additional 18,302 shares during the period. Renaissance Technologies LLC increased its stake in shares of Safe Bulkers by 4.3% in the second quarter. Renaissance Technologies LLC now owns 3,596,495 shares of the shipping company’s stock worth $5,611,000 after buying an additional 148,795 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Safe Bulkers by 6.2% in the second quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock worth $710,000 after buying an additional 26,368 shares during the period. 14.90% of the stock is currently owned by hedge funds and other institutional investors.
Safe Bulkers stock traded down $0.03 during mid-day trading on Monday, hitting $1.75. 421,014 shares of the company traded hands, compared to its average volume of 332,833. Safe Bulkers has a one year low of $1.28 and a one year high of $3.05. The stock has a market cap of $183.30 million, a price-to-earnings ratio of 10.29 and a beta of 1.66. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a fifty day moving average price of $1.93 and a 200-day moving average price of $1.73.
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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