Safe Bulkers, Inc Expected to Earn Q3 2017 Earnings of ($0.06) Per Share (SB)
Safe Bulkers, Inc (NYSE:SB) – Equities researchers at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for shares of Safe Bulkers in a report issued on Thursday. Jefferies Group analyst D. Mavrinac now anticipates that the shipping company will post earnings of ($0.06) per share for the quarter, down from their previous forecast of ($0.05). Jefferies Group has a “Hold” rating and a $2.50 price objective on the stock. Jefferies Group also issued estimates for Safe Bulkers’ FY2017 earnings at ($0.25) EPS.
Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). Safe Bulkers had a negative net margin of 26.74% and a negative return on equity of 3.34%. The business had revenue of $35.01 million for the quarter, compared to the consensus estimate of $36.81 million. During the same period in the prior year, the business posted ($0.15) EPS. Safe Bulkers’s revenue for the quarter was up 33.6% on a year-over-year basis. WARNING: This story was published by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/23/safe-bulkers-inc-expected-to-earn-q3-2017-earnings-of-0-06-per-share-sb.html.
Several other brokerages have also recently weighed in on SB. Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the company a “hold” rating in a research note on Saturday. Finally, BidaskClub lowered shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $3.13.
Safe Bulkers (NYSE SB) opened at 3.29 on Monday. Safe Bulkers has a 52 week low of $1.09 and a 52 week high of $3.65. The firm’s 50 day moving average is $3.13 and its 200-day moving average is $2.59. The company’s market cap is $333.48 million.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in Safe Bulkers during the second quarter worth $117,000. New York State Common Retirement Fund purchased a new stake in Safe Bulkers during the second quarter worth $117,000. Engineers Gate Manager LP purchased a new stake in Safe Bulkers during the second quarter worth $131,000. Credit Suisse AG purchased a new stake in Safe Bulkers during the first quarter worth $140,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Safe Bulkers during the second quarter worth $190,000. 18.96% 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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