Wall Street analysts forecast that Safe Bulkers, Inc (NYSE:SB) will report $34.12 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Safe Bulkers’ earnings, with the highest sales estimate coming in at $36.92 million and the lowest estimate coming in at $32.10 million. Safe Bulkers posted sales of $27.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 25.8%. The business is scheduled to announce its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Safe Bulkers will report full year sales of $34.12 million for the current fiscal year, with estimates ranging from $129.90 million to $149.23 million. For the next financial year, analysts expect that the business will post sales of $173.34 million per share, with estimates ranging from $142.60 million to $213.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Safe Bulkers.
Safe Bulkers (NYSE:SB) last issued its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $36.81 million. Safe Bulkers had a negative return on equity of 3.29% and a negative net margin of 26.74%. The business’s revenue was up 33.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) EPS.
A number of equities research analysts recently weighed in on the stock. BidaskClub cut shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Friday, April 21st. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 price target on shares of Safe Bulkers in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and issued a $2.50 price target on shares of Safe Bulkers in a research report on Tuesday, July 4th. Finally, TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c-” rating in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.25.
Shares of Safe Bulkers (SB) opened at 2.58 on Tuesday. The firm’s 50-day moving average price is $2.42 and its 200 day moving average price is $2.00. The firm’s market capitalization is $261.52 million. Safe Bulkers has a 12 month low of $1.07 and a 12 month high of $2.75.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after buying an additional 977,900 shares during the last quarter. Phoenix Investment Adviser LLC boosted its stake in shares of Safe Bulkers by 3.9% in the first quarter. Phoenix Investment Adviser LLC now owns 573,992 shares of the shipping company’s stock worth $1,263,000 after buying an additional 21,775 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Safe Bulkers by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after buying an additional 171,813 shares during the last quarter. KCG Holdings Inc. boosted its stake in shares of Safe Bulkers by 342.8% in the first quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock worth $772,000 after buying an additional 271,650 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Safe Bulkers during the first quarter worth approximately $683,000. 14.85% of the stock is owned by institutional investors and hedge funds.
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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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