Safe Bulkers, Inc (SB) Scheduled to Post Quarterly Earnings on Monday
Safe Bulkers, Inc (NYSE:SB) is scheduled to be announcing its earnings results after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter.
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 3.34% 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. On average, analysts expect Safe Bulkers to post $-0.2 EPS for the current fiscal year and $0.11 EPS for the next fiscal year.
Safe Bulkers, Inc (NYSE SB) opened at 3.29 on Monday. The company has a 50-day moving average price of $3.13 and a 200-day moving average price of $2.59. Safe Bulkers, Inc has a 52 week low of $1.09 and a 52 week high of $3.65. The stock’s market cap is $333.48 million.
Several equities analysts have issued reports on SB shares. Maxim Group set a $5.00 price objective on shares of Safe Bulkers and gave the company a “buy” rating in a research note on Thursday. BidaskClub downgraded shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and issued a $2.25 price objective on shares of Safe Bulkers in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $2.50 price objective on shares of Safe Bulkers in a research note on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Safe Bulkers has an average rating of “Hold” and a consensus target price of $3.13.
Several large investors have recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of Safe Bulkers in the second quarter valued at about $1,088,000. Vanguard Group Inc. purchased a new stake in shares of Safe Bulkers in the second quarter valued at about $223,000. Finally, California State Teachers Retirement System purchased a new stake in shares of Safe Bulkers in the second quarter valued at about $195,000. 18.96% 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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