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.

Several equities research analysts recently weighed in on the company. ValuEngine downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Jefferies Group reaffirmed a “hold” rating on shares of Safe Bulkers in a report on Friday, November 3rd. Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the stock a “hold” rating in a report on Saturday, October 21st. Finally, Maxim Group set a $5.00 target price on Safe Bulkers and gave the stock a “buy” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $3.00.

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.

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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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Earnings History and Estimates for Safe Bulkers (NYSE:SB)

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