Zacks: Brokerages Anticipate Safe Bulkers, Inc (SB) Will Post Earnings of -$0.04 Per Share
Analysts expect Safe Bulkers, Inc (NYSE:SB) to post earnings of ($0.04) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Safe Bulkers’ earnings, with estimates ranging from ($0.05) to ($0.03). Safe Bulkers posted earnings of ($0.15) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 73.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Safe Bulkers will report full year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.25) to ($0.13). For the next financial year, analysts anticipate that the company will post 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 analysts that that provide coverage for Safe Bulkers.
Safe Bulkers (NYSE:SB) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $35.01 million for the quarter, compared to the consensus estimate of $36.81 million. Safe Bulkers had a negative net margin of 26.74% and a negative return on equity of 3.34%. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS.
SB has been the topic of a number of research reports. Maxim Group initiated coverage on shares of Safe Bulkers in a research report on Monday, August 21st. They issued a “buy” rating and a $5.00 price objective on the stock. BidaskClub lowered shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 price objective 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 objective on shares of Safe Bulkers in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.19.
A number of hedge funds and other institutional investors have recently bought and sold shares of SB. Renaissance Technologies LLC raised its position in Safe Bulkers by 335.2% during the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after acquiring an additional 977,900 shares in the last quarter. KCG Holdings Inc. raised its position in Safe Bulkers by 342.8% during the first quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock worth $772,000 after acquiring an additional 271,650 shares in the last quarter. Credit Suisse AG bought a new stake in Safe Bulkers during the first quarter worth $140,000. Driehaus Capital Management LLC bought a new stake in Safe Bulkers during the first quarter worth $569,000. Finally, Goldman Sachs Group Inc. raised its position in Safe Bulkers by 57.1% during the first quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after acquiring an additional 171,813 shares in the last quarter. 18.98% of the stock is currently owned by hedge funds and other institutional investors.
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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