Brokerages Anticipate Safe Bulkers, Inc. (NYSE:SB) Will Post Quarterly Sales of $84.19 Million

Analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will post sales of $84.19 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Safe Bulkers’ earnings. The lowest sales estimate is $73.20 million and the highest is $92.07 million. Safe Bulkers posted sales of $47.51 million during the same quarter last year, which suggests a positive year-over-year growth rate of 77.2%. The business is scheduled to report its next earnings results on Monday, February 21st.

According to Zacks, analysts expect that Safe Bulkers will report full year sales of $319.02 million for the current year, with estimates ranging from $314.60 million to $323.07 million. For the next year, analysts forecast that the firm will report sales of $322.03 million, with estimates ranging from $318.70 million to $324.22 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Safe Bulkers.

Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, November 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The firm had revenue of $91.02 million for the quarter, compared to analyst estimates of $85.79 million. Safe Bulkers had a net margin of 40.43% and a return on equity of 21.30%.

Several equities analysts have recently issued reports on SB shares. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “strong-buy” rating and set a $5.75 price target for the company in a research note on Wednesday, September 29th. HC Wainwright began coverage on shares of Safe Bulkers in a research note on Monday, September 13th. They set a “buy” rating and a $6.50 target price for the company. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.69.

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its stake in shares of Safe Bulkers by 176.5% in the 3rd quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock worth $37,000 after acquiring an additional 4,608 shares in the last quarter. Sei Investments Co. purchased a new stake in Safe Bulkers during the 2nd quarter valued at about $41,000. Sigma Planning Corp purchased a new stake in Safe Bulkers during the 2nd quarter valued at about $47,000. Paloma Partners Management Co purchased a new stake in Safe Bulkers during the 1st quarter valued at about $52,000. Finally, Virtu Financial LLC purchased a new stake in Safe Bulkers during the 2nd quarter valued at about $55,000. Institutional investors own 27.74% of the company’s stock.

Safe Bulkers stock traded up $0.12 during mid-day trading on Thursday, reaching $3.59. The company had a trading volume of 972,155 shares, compared to its average volume of 1,486,444. Safe Bulkers has a fifty-two week low of $1.08 and a fifty-two week high of $5.44. The company has a current ratio of 2.11, a quick ratio of 2.39 and a debt-to-equity ratio of 0.60. The company has a market cap of $428.96 million, a P/E ratio of 3.86 and a beta of 0.56. The business has a fifty day simple moving average of $4.44 and a 200 day simple moving average of $4.01.

Safe Bulkers Company Profile

Safe Bulkers, Inc is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels.

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

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