-$0.01 EPS Expected for Safe Bulkers, Inc. (SB) This Quarter

Wall Street brokerages expect Safe Bulkers, Inc. (NYSE:SB) to post earnings per share of ($0.01) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Safe Bulkers’ earnings, with estimates ranging from ($0.06) to $0.02. Safe Bulkers posted earnings per share of $0.03 in the same quarter last year, which indicates a negative year over year growth rate of 133.3%. The business is expected to issue its next quarterly earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that Safe Bulkers will report full year earnings of $0.17 per share for the current financial year, with EPS estimates ranging from ($0.15) to $0.49. For the next financial year, analysts forecast that the business will report earnings of $0.49 per share, with EPS estimates ranging from $0.14 to $0.79. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, February 19th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Safe Bulkers had a net margin of 14.19% and a return on equity of 6.30%. The business had revenue of $52.57 million for the quarter, compared to analysts’ expectations of $52.04 million.

A number of analysts have recently commented on SB shares. ValuEngine raised Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 16th. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c” rating in a report on Friday, April 12th. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, Maxim Group decreased their price objective on shares of Safe Bulkers to $3.50 and set a “buy” rating for the company in a report on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.92.

NYSE:SB traded up $0.07 during mid-day trading on Wednesday, reaching $1.62. 2,000 shares of the company’s stock traded hands, compared to its average volume of 300,733. Safe Bulkers has a 12-month low of $1.28 and a 12-month high of $3.90. The company has a market cap of $167.19 million, a PE ratio of 9.94 and a beta of 1.65. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.85 and a quick ratio of 1.78.

A number of hedge funds and other institutional investors have recently made changes to their positions in SB. Marshall Wace LLP purchased a new stake in Safe Bulkers during the 3rd quarter valued at $1,993,000. Renaissance Technologies LLC raised its stake in Safe Bulkers by 6.5% during the 3rd quarter. Renaissance Technologies LLC now owns 3,350,200 shares of the shipping company’s stock valued at $9,649,000 after buying an additional 204,278 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Safe Bulkers by 59.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 666,466 shares of the shipping company’s stock valued at $1,919,000 after buying an additional 249,270 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Safe Bulkers during the 4th quarter valued at $218,000. Finally, MCF Advisors LLC purchased a new stake in Safe Bulkers during the 4th quarter valued at $50,000. Institutional investors own 19.22% of the company’s stock.

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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