Equities research analysts expect Safe Bulkers, Inc (NYSE:SB) to report ($0.04) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Safe Bulkers’ earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.03). Safe Bulkers posted earnings per share of ($0.15) during the same quarter last year, which would suggest a positive year over year growth rate of 73.3%. The company is expected to issue its next earnings results after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.25) to ($0.13). For the next year, analysts forecast that the company will report earnings of $0.11 per share, with EPS estimates ranging from ($0.13) to $0.43. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Safe Bulkers.
SB has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $2.50 price target on shares of Safe Bulkers in a research report on Tuesday, July 4th. Maxim Group initiated coverage on shares of Safe Bulkers in a research report on Monday, August 21st. They set a “buy” rating and a $5.00 price target 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. Finally, Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the company a “hold” rating in a research report on Saturday, October 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $3.13.
Shares of Safe Bulkers (NYSE SB) opened at 3.55 on Wednesday. The company’s 50-day moving average price is $3.13 and its 200 day moving average price is $2.64. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.65. The firm’s market cap is $359.84 million.
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Several hedge funds and other institutional investors have recently made changes to their positions in SB. Evermore Global Advisors LLC raised its holdings in shares of Safe Bulkers by 35.1% during the second quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after purchasing an additional 1,402,983 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Safe Bulkers by 335.2% during the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after purchasing an additional 977,900 shares during the period. State Street Corp acquired a new position in shares of Safe Bulkers during the second quarter valued at about $1,088,000. Northern Trust Corp acquired a new position in shares of Safe Bulkers during the second quarter valued at about $943,000. Finally, Driehaus Capital Management LLC acquired a new position in shares of Safe Bulkers during the first quarter valued at about $569,000. Hedge funds and other institutional investors own 19.00% of the company’s stock.
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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