Equities analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will announce sales of $41.10 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Safe Bulkers’ earnings, with estimates ranging from $40.50 million to $41.40 million. Safe Bulkers posted sales of $33.33 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 17th.
On average, analysts expect that Safe Bulkers will report full-year sales of $41.10 million for the current fiscal year, with estimates ranging from $163.50 million to $196.69 million. For the next financial year, analysts anticipate that the business will report sales of $204.98 million per share, with estimates ranging from $195.75 million to $213.87 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, February 14th. The shipping company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Safe Bulkers had a net margin of 3.26% and a return on equity of 16.52%. The business had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $38.12 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year.
A number of brokerages have recently commented on SB. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, January 25th. Stifel Nicolaus set a $3.00 price target on shares of Safe Bulkers and gave the stock a “hold” rating in a report on Thursday, February 15th. Maxim Group reissued a “buy” rating and set a $5.50 price target (up from $5.00) on shares of Safe Bulkers in a report on Thursday, February 15th. ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Morgan Stanley cut shares of Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Safe Bulkers currently has a consensus rating of “Hold” and a consensus price target of $3.71.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Safe Bulkers during the third quarter worth about $101,000. New York State Common Retirement Fund acquired a new position in Safe Bulkers during the second quarter worth about $117,000. The Manufacturers Life Insurance Company grew its position in Safe Bulkers by 267.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 38,005 shares of the shipping company’s stock worth $123,000 after buying an additional 27,653 shares during the period. Macquarie Group Ltd. acquired a new position in Safe Bulkers during the third quarter worth about $142,000. Finally, Wells Fargo & Company MN grew its position in Safe Bulkers by 158.2% during the fourth quarter. Wells Fargo & Company MN now owns 49,144 shares of the shipping company’s stock worth $159,000 after buying an additional 30,113 shares during the period. 22.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Safe Bulkers (NYSE:SB) traded up $0.03 during trading hours on Tuesday, hitting $3.74. 422,003 shares of the stock were exchanged, compared to its average volume of 467,882. Safe Bulkers has a 1-year low of $1.52 and a 1-year high of $3.94. The company has a quick ratio of 2.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $379.71, a PE ratio of -3.82 and a beta of 1.98.
About Safe Bulkers
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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