Safe Bulkers, Inc. (NYSE:SB) – Seaport Global Securities lowered their Q1 2019 earnings per share (EPS) estimates for Safe Bulkers in a research note issued on Tuesday, February 19th. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will earn $0.04 per share for the quarter, down from their prior forecast of $0.07. Seaport Global Securities also issued estimates for Safe Bulkers’ Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.06 EPS, FY2019 earnings at $0.30 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.16 EPS and FY2020 earnings at $0.63 EPS.
Other analysts have also recently issued reports about the stock. Maxim Group reduced their price objective on shares of Safe Bulkers to $3.50 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 27th. Finally, Jefferies Financial Group upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, November 9th. 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. The company currently has a consensus rating of “Hold” and a consensus price target of $3.86.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). Safe Bulkers had a return on equity of 6.34% and a net margin of 14.19%. The firm had revenue of $52.57 million during the quarter, compared to analyst estimates of $52.04 million.
A number of large investors have recently added to or reduced their stakes in SB. SG Americas Securities LLC acquired a new position in Safe Bulkers during the 4th quarter valued at $37,000. MCF Advisors LLC bought a new stake in Safe Bulkers in the 4th quarter valued at $50,000. ClariVest Asset Management LLC bought a new stake in Safe Bulkers in the 3rd quarter valued at $121,000. Rhumbline Advisers increased its holdings in Safe Bulkers by 40.6% in the 4th quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock valued at $124,000 after buying an additional 20,183 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in Safe Bulkers by 198.0% in the 3rd quarter. GSA Capital Partners LLP now owns 53,700 shares of the shipping company’s stock valued at $155,000 after buying an additional 35,682 shares during the period. Hedge funds and other institutional investors own 19.79% of the company’s stock.
Safe Bulkers Company Profile
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.
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