Brokerages Anticipate Safe Bulkers, Inc. (SB) to Post -$0.01 Earnings Per Share

Brokerages forecast that Safe Bulkers, Inc. (NYSE:SB) will report earnings per share of ($0.01) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Safe Bulkers’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.01. Safe Bulkers reported earnings of $0.03 per share during the same quarter last year, which would suggest a negative year over year growth rate of 133.3%. The business is scheduled to report its next earnings results on Tuesday, June 4th.

According to Zacks, analysts expect that Safe Bulkers will report full year earnings of $0.11 per share for the current year, with EPS estimates ranging from ($0.15) to $0.49. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.35 per share, with EPS estimates ranging from $0.14 to $0.56. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Tuesday, February 19th. The shipping company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $52.57 million for the quarter, compared to analysts’ expectations of $52.04 million. Safe Bulkers had a return on equity of 6.30% and a net margin of 14.19%.

SB has been the subject of a number of research analyst reports. Zacks Investment Research cut Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. Maxim Group decreased their price target on Safe Bulkers to $3.50 and set a “buy” rating for the company in a research note on Wednesday, February 20th. ValuEngine cut Safe Bulkers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, TheStreet upgraded Safe Bulkers from a “d+” rating to a “c” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Safe Bulkers has an average rating of “Hold” and a consensus price target of $4.25.

Shares of NYSE SB traded down $0.08 during mid-day trading on Thursday, reaching $1.58. 501,139 shares of the company were exchanged, compared to its average volume of 341,438. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.85 and a quick ratio of 1.78. The stock has a market capitalization of $170.26 million, a P/E ratio of 9.29 and a beta of 1.73. Safe Bulkers has a 1 year low of $1.28 and a 1 year high of $3.90.

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Safe Bulkers in the first quarter worth about $45,000. JPMorgan Chase & Co. grew its holdings in Safe Bulkers by 517.4% during the first quarter. JPMorgan Chase & Co. now owns 361,581 shares of the shipping company’s stock worth $528,000 after acquiring an additional 303,020 shares during the period. Geode Capital Management LLC grew its holdings in Safe Bulkers by 16.3% during the fourth quarter. Geode Capital Management LLC now owns 248,319 shares of the shipping company’s stock worth $441,000 after acquiring an additional 34,889 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Safe Bulkers by 13.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,617 shares of the shipping company’s stock worth $526,000 after acquiring an additional 35,228 shares during the period. Finally, Barclays PLC grew its holdings in Safe Bulkers by 284.7% during the fourth quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after acquiring an additional 79,168 shares during the period. Institutional investors own 19.17% of the company’s stock.

About Safe Bulkers

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

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

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