Equities research analysts predict that Safe Bulkers, Inc. (NYSE:SB) will report $0.05 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Safe Bulkers’ earnings. The highest EPS estimate is $0.06 and the lowest is $0.04. Safe Bulkers posted earnings of ($0.05) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 200%. The company is expected to announce its next earnings report on Tuesday, October 30th.

On average, analysts expect that Safe Bulkers will report full-year earnings of $0.22 per share for the current year, with EPS estimates ranging from $0.16 to $0.27. For the next financial year, analysts forecast that the company will report earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.71. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings data on Wednesday, July 25th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $47.00 million for the quarter, compared to analysts’ expectations of $46.45 million. Safe Bulkers had a return on equity of 21.84% and a net margin of 11.47%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share.

Several equities analysts have recently weighed in on SB shares. Seaport Global Securities raised Safe Bulkers from a “neutral” rating to a “buy” rating and boosted their target price for the company from $3.50 to $5.00 in a research report on Tuesday, July 31st. TheStreet raised Safe Bulkers from a “d+” rating to a “c-” rating in a research report on Wednesday, June 27th. Zacks Investment Research downgraded Safe Bulkers from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 1st. Maxim Group reissued a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research report on Monday, July 23rd. Finally, ValuEngine downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $3.79.

A number of institutional investors have recently made changes to their positions in SB. Renaissance Technologies LLC grew its position in Safe Bulkers by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock valued at $10,696,000 after acquiring an additional 542,822 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Safe Bulkers by 97.7% in the 2nd quarter. Millennium Management LLC now owns 999,095 shares of the shipping company’s stock worth $3,397,000 after buying an additional 493,652 shares during the period. BlackRock Inc. lifted its holdings in shares of Safe Bulkers by 13.1% in the 2nd quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock worth $8,760,000 after buying an additional 298,282 shares during the period. Navellier & Associates Inc purchased a new stake in shares of Safe Bulkers in the 1st quarter worth $487,000. Finally, UBS Group AG lifted its holdings in shares of Safe Bulkers by 14.9% in the 1st quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock worth $2,385,000 after buying an additional 97,344 shares during the period. 21.28% of the stock is currently owned by institutional investors.

Shares of SB opened at $2.55 on Friday. The company has a market cap of $292.48 million, a PE ratio of -15.94 and a beta of 2.39. Safe Bulkers has a 1 year low of $2.51 and a 1 year high of $3.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.93 and a current ratio of 0.93.

About Safe Bulkers

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.

Featured Story: How dollar cost averaging works

Get a free copy of the Zacks research report on Safe Bulkers (SB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Safe Bulkers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers and related companies with MarketBeat.com's FREE daily email newsletter.