Analysts predict that Safe Bulkers, Inc. (NYSE:SB) will post sales of $38.68 million for the current quarter, according to Zacks. Three analysts have issued estimates for Safe Bulkers’ earnings. The highest sales estimate is $39.81 million and the lowest is $37.13 million. Safe Bulkers posted sales of $31.71 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The firm is expected to report its next earnings report on Thursday, February 22nd.
On average, analysts expect that Safe Bulkers will report full-year sales of $38.68 million for the current fiscal year, with estimates ranging from $124.42 million to $143.91 million. For the next year, analysts anticipate that the company will post sales of $168.99 million per share, with estimates ranging from $146.30 million to $211.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Safe Bulkers.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The company had revenue of $38.80 million for the quarter, compared to analyst estimates of $37.12 million. During the same quarter last year, the company posted ($0.15) EPS. The company’s revenue for the quarter was up 37.6% compared to the same quarter last year.
Large investors have recently made changes to their positions in the company. Evermore Global Advisors LLC increased its position in Safe Bulkers by 35.1% in the 2nd quarter. Evermore Global Advisors LLC now owns 5,395,692 shares of the shipping company’s stock valued at $12,356,000 after buying an additional 1,402,983 shares in the last quarter. Cortina Asset Management LLC bought a new stake in Safe Bulkers in the 3rd quarter valued at about $3,879,000. Renaissance Technologies LLC increased its position in Safe Bulkers by 335.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock valued at $2,793,000 after buying an additional 977,900 shares in the last quarter. State Street Corp bought a new stake in Safe Bulkers in the 2nd quarter valued at about $1,088,000. Finally, Northern Trust Corp bought a new stake in Safe Bulkers in the 2nd quarter valued at about $943,000. 20.20% of the stock is currently owned by institutional investors.
Safe Bulkers (SB) traded up $0.10 during midday trading on Monday, hitting $3.15. The company had a trading volume of 255,200 shares, compared to its average volume of 598,360. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Safe Bulkers has a 12 month low of $1.10 and a 12 month high of $3.79.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Safe Bulkers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.