Safe Bulkers, Inc. (SB) Expected to Post Quarterly Sales of $38.68 Million

Equities analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will post $38.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Safe Bulkers’ earnings, with the highest sales estimate coming in at $39.81 million and the lowest estimate coming in at $37.13 million. Safe Bulkers posted sales of $31.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The business is expected to announce its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, 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 $143.93 million. For the next year, analysts expect that the company will report sales of $170.19 million per share, with estimates ranging from $146.30 million to $217.16 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 released its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Safe Bulkers had a negative net margin of 2.01% and a negative return on equity of 2.10%. The business had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. During the same period last year, the business earned ($0.15) EPS. The company’s revenue was up 37.6% compared to the same quarter last year.

A number of analysts have recently weighed in on SB shares. Maxim Group set a $5.00 price target on shares of Safe Bulkers and gave the company a “buy” rating in a report on Sunday, November 19th. Zacks Investment Research upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the company a “hold” rating in a report on Saturday, October 21st. Jefferies Group restated a “hold” rating on shares of Safe Bulkers in a report on Friday, November 3rd. Finally, ValuEngine cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Safe Bulkers has a consensus rating of “Hold” and a consensus price target of $3.10.

Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Safe Bulkers in the 3rd quarter worth approximately $101,000. New York State Common Retirement Fund acquired a new stake in Safe Bulkers during the 2nd quarter valued at approximately $117,000. Rhumbline Advisers acquired a new stake in Safe Bulkers during the 2nd quarter valued at approximately $117,000. Engineers Gate Manager LP acquired a new stake in Safe Bulkers during the 2nd quarter valued at approximately $131,000. Finally, Macquarie Group Ltd. acquired a new stake in Safe Bulkers during the 3rd quarter valued at approximately $142,000. Institutional investors own 20.12% of the company’s stock.

Shares of Safe Bulkers (NYSE:SB) opened at $3.60 on Friday. Safe Bulkers has a 1-year low of $1.23 and a 1-year high of $3.79. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28.

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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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