Safe Bulkers, Inc (SB) Issues Earnings Results
Safe Bulkers, Inc (NYSE:SB) released its quarterly earnings results on Tuesday. The shipping company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05), Briefing.com reports. Safe Bulkers had a negative return on equity of 3.34% and a negative net margin of 26.74%. The company had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The firm’s revenue was up 37.6% compared to the same quarter last year.
Safe Bulkers (NYSE:SB) traded down 4.79% during mid-day trading on Wednesday, hitting $3.38. The stock had a trading volume of 359,978 shares. Safe Bulkers has a one year low of $1.09 and a one year high of $3.65. The company’s market cap is $342.61 million. The company has a 50 day moving average price of $3.13 and a 200-day moving average price of $2.64.
A number of research firms have recently weighed in on SB. Maxim Group set a $5.00 price objective on Safe Bulkers and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus set a $2.00 price objective on Safe Bulkers and gave the stock a “hold” rating in a research report on Saturday, October 21st. Finally, BidaskClub lowered Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $3.13.
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Several large investors have recently bought and sold shares of SB. State Street Corp acquired a new position in shares of Safe Bulkers during the 2nd quarter valued at $1,088,000. Vanguard Group Inc. acquired a new position in shares of Safe Bulkers during the 2nd quarter valued at $223,000. Finally, California State Teachers Retirement System acquired a new position in shares of Safe Bulkers during the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 19.00% of the company’s stock.
Safe Bulkers Company Profile
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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