Safe Bulkers, Inc. (SB) Expected to Announce Quarterly Sales of $39.22 Million
Brokerages expect Safe Bulkers, Inc. (NYSE:SB) to announce $39.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Safe Bulkers’ earnings, with estimates ranging from $38.67 million to $39.88 million. Safe Bulkers reported sales of $31.71 million during the same quarter last year, which indicates a positive year over year growth rate of 23.7%. The firm is expected to issue its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Safe Bulkers will report full year sales of $39.22 million for the current financial year, with estimates ranging from $140.96 million to $143.93 million. For the next financial year, analysts forecast that the business will report sales of $180.39 million per share, with estimates ranging from $146.30 million to $217.16 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Safe Bulkers.
SB has been the topic of a number of recent research reports. Citigroup lifted their target price on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Thursday, November 2nd. Jefferies Group reissued a “hold” rating on shares of Safe Bulkers in a research report on Friday, November 3rd. Maxim Group set a $5.00 target price on Safe Bulkers and gave the company a “buy” rating in a research report on Tuesday, October 31st. Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the company a “hold” rating in a research report on Saturday, October 21st. Finally, Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.29.
Large investors have recently bought and sold shares of the business. Northern Trust Corp acquired a new position in shares of Safe Bulkers during the 2nd quarter worth approximately $943,000. TIAA CREF Investment Management LLC acquired a new position in shares of Safe Bulkers during the 2nd quarter worth approximately $292,000. Bank of New York Mellon Corp acquired a new position in shares of Safe Bulkers during the 2nd quarter worth approximately $307,000. EAM Investors LLC acquired a new position in shares of Safe Bulkers during the 3rd quarter worth approximately $485,000. Finally, Nationwide Fund Advisors increased its position in shares of Safe Bulkers by 282.8% during the 3rd quarter. Nationwide Fund Advisors now owns 100,618 shares of the shipping company’s stock worth $276,000 after purchasing an additional 74,335 shares during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.
About Safe Bulkers
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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