Analysts Expect Safe Bulkers, Inc. (NYSE:SB) to Post $0.10 Earnings Per Share


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Equities analysts expect Safe Bulkers, Inc. (NYSE:SB) to post earnings per share (EPS) of $0.10 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Safe Bulkers’ earnings. The lowest EPS estimate is $0.08 and the highest is $0.11. Safe Bulkers posted earnings of ($0.13) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 176.9%. The company is scheduled to report its next quarterly earnings results on Monday, June 14th.

On average, analysts expect that Safe Bulkers will report full-year earnings of $0.42 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.43. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.45 per share, with EPS estimates ranging from $0.44 to $0.45. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last posted its quarterly earnings data on Sunday, February 14th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $47.51 million during the quarter, compared to the consensus estimate of $48.61 million. Safe Bulkers had a negative return on equity of 3.64% and a negative net margin of 8.52%.

SB has been the subject of a number of research reports. Zacks Investment Research downgraded Safe Bulkers from a “buy” rating to a “hold” rating in a report on Thursday, February 18th. Stifel Nicolaus upgraded Safe Bulkers from a “hold” rating to a “buy” rating and raised their price target for the company from $1.50 to $3.00 in a report on Monday, February 1st. TheStreet upgraded Safe Bulkers from a “d+” rating to a “c-” rating in a report on Tuesday, February 9th. Finally, Jefferies Financial Group downgraded Safe Bulkers from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $1.50 to $1.75 in a report on Friday, January 29th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $2.13.

SB traded down $0.10 during trading on Friday, reaching $2.25. The stock had a trading volume of 25,466 shares, compared to its average volume of 838,739. The stock’s 50 day moving average is $2.73 and its two-hundred day moving average is $1.68. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $229.89 million, a price-to-earnings ratio of -8.70 and a beta of 0.95. Safe Bulkers has a one year low of $0.82 and a one year high of $3.15.

A number of large investors have recently made changes to their positions in SB. Squarepoint Ops LLC boosted its position in Safe Bulkers by 251.8% in the third quarter. Squarepoint Ops LLC now owns 53,436 shares of the shipping company’s stock worth $55,000 after purchasing an additional 38,246 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new position in Safe Bulkers in the fourth quarter worth about $236,000. BlackRock Inc. boosted its position in Safe Bulkers by 3.7% in the fourth quarter. BlackRock Inc. now owns 2,755,848 shares of the shipping company’s stock worth $3,583,000 after purchasing an additional 98,370 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in Safe Bulkers in the fourth quarter worth about $38,000. Finally, Bank of New York Mellon Corp boosted its position in Safe Bulkers by 20.7% in the fourth quarter. Bank of New York Mellon Corp now owns 173,568 shares of the shipping company’s stock worth $225,000 after purchasing an additional 29,742 shares during the last quarter. 12.97% of the stock is currently owned by institutional investors and hedge funds.

About Safe Bulkers

Safe Bulkers, Inc provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of March 15, 2021, the company had a fleet of 43 drybulk vessels having an average age of 10.3 years; and an aggregate carrying capacity of 3,937,000 deadweight tons.

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