Safe Bulkers, Inc. (NYSE:SB) Expected to Announce Earnings of $0.03 Per Share

Equities analysts expect Safe Bulkers, Inc. (NYSE:SB) to announce earnings of $0.03 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Safe Bulkers’ earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.04. Safe Bulkers posted earnings of $0.02 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is expected to issue its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.07 per share for the current year, with EPS estimates ranging from $0.06 to $0.07. For the next fiscal year, analysts forecast that the firm will post earnings of $0.46 per share, with EPS estimates ranging from $0.36 to $0.55. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Safe Bulkers had a return on equity of 6.18% and a net margin of 13.56%. The firm had revenue of $48.29 million for the quarter, compared to analyst estimates of $44.69 million.

Several brokerages have recently issued reports on SB. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet upgraded Wayside Technology Group from a “c” rating to a “b-” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research upgraded Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.85.

Safe Bulkers stock traded down $0.09 during mid-day trading on Wednesday, reaching $1.95. 385,500 shares of the company were exchanged, compared to its average volume of 321,689. Safe Bulkers has a 12 month low of $1.28 and a 12 month high of $3.63. The firm’s fifty day simple moving average is $1.61. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.11. The company has a market cap of $208.58 million, a price-to-earnings ratio of 11.47 and a beta of 1.80.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in shares of Safe Bulkers by 40.6% during the 4th quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock valued at $124,000 after acquiring an additional 20,183 shares in the last quarter. Barclays PLC lifted its holdings in Safe Bulkers by 284.7% during the 4th quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after buying an additional 79,168 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Safe Bulkers by 16.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,850 shares of the shipping company’s stock worth $293,000 after buying an additional 23,775 shares during the period. Geode Capital Management LLC lifted its holdings in Safe Bulkers by 16.3% during the 4th quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock worth $441,000 after buying an additional 34,889 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Safe Bulkers by 13.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock worth $526,000 after buying an additional 35,228 shares during the period. 16.33% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Safe Bulkers (NYSE:SB)

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