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

Brokerages expect Safe Bulkers, Inc. (NYSE:SB) to announce ($0.01) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Safe Bulkers’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.02. Safe Bulkers reported earnings of $0.03 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 133.3%. The business is expected to issue its next earnings results on Tuesday, June 4th.

On average, 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 year, analysts anticipate that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.14 to $0.79. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Safe Bulkers.

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

SB has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Maxim Group reduced their price objective on shares of Safe Bulkers to $3.50 and set a “buy” rating for the company in a research note on Wednesday, February 20th. TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c” rating in a research note on Friday, April 12th. Finally, ValuEngine raised shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $3.86.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Safe Bulkers by 16.3% in the fourth quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock valued at $441,000 after purchasing an additional 34,889 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Safe Bulkers by 13.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock valued at $526,000 after purchasing an additional 35,228 shares during the period. Barclays PLC grew its holdings in shares of Safe Bulkers by 284.7% in the fourth quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock valued at $191,000 after purchasing an additional 79,168 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Safe Bulkers by 16.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,850 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 23,775 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Safe Bulkers by 2.7% in the fourth quarter. BlackRock Inc. now owns 2,667,754 shares of the shipping company’s stock valued at $4,749,000 after purchasing an additional 69,107 shares during the period. 19.22% of the stock is owned by hedge funds and other institutional investors.

SB opened at $1.66 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.78 and a current ratio of 1.85. Safe Bulkers has a 1-year low of $1.28 and a 1-year high of $3.90. The company has a market capitalization of $170.27 million, a price-to-earnings ratio of 9.76 and a beta of 1.65.

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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