Analysts Expect Safe Bulkers, Inc. (SB) Will Announce Earnings of $0.10 Per Share

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Equities research analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will post $0.10 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Safe Bulkers’ earnings. The highest EPS estimate is $0.13 and the lowest is $0.06. Safe Bulkers reported earnings of $0.02 per share in the same quarter last year, which would indicate a positive year over year growth rate of 400%. The business is expected to report its next quarterly earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.16 to $0.24. For the next year, analysts expect that the company will post earnings of $0.51 per share, with EPS estimates ranging from $0.34 to $0.71. Zacks’ EPS averages are an average based on a survey of research firms that cover Safe Bulkers.

Safe Bulkers (NYSE:SB) last issued its earnings results on Wednesday, November 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Safe Bulkers had a return on equity of 25.18% and a net margin of 11.41%. The firm had revenue of $50.10 million during the quarter, compared to the consensus estimate of $48.08 million.

Several equities research analysts have recently issued reports on SB shares. Zacks Investment Research cut Safe Bulkers from a “hold” rating to a “strong sell” rating in a report on Thursday, October 4th. TheStreet cut Safe Bulkers from a “c-” rating to a “d+” rating in a report on Thursday, September 6th. Evercore ISI raised Safe Bulkers from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $4.50 in a research note on Thursday, October 18th. They noted that the move was a valuation call. Jefferies Financial Group raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Friday. Finally, ValuEngine cut Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $4.21.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd increased its stake in Safe Bulkers by 154.9% during the second quarter. Dynamic Technology Lab Private Ltd now owns 29,522 shares of the shipping company’s stock worth $100,000 after acquiring an additional 17,941 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Safe Bulkers during the first quarter worth approximately $120,000. ClariVest Asset Management LLC bought a new stake in Safe Bulkers during the third quarter worth approximately $121,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Safe Bulkers during the second quarter worth approximately $175,000. Finally, Engineers Gate Manager LP bought a new stake in Safe Bulkers during the second quarter worth approximately $187,000. 21.16% of the stock is currently owned by institutional investors.

Shares of SB stock opened at $2.37 on Wednesday. Safe Bulkers has a 12-month low of $2.31 and a 12-month high of $3.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $251.85 million, a PE ratio of -14.81 and a beta of 2.30.

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

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