Wall Street analysts forecast that Safe Bulkers, Inc. (NYSE:SB) will announce earnings of $0.06 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Safe Bulkers’ earnings. The highest EPS estimate is $0.09 and the lowest is $0.04. Safe Bulkers reported earnings of ($0.05) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 220%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 30th.

On average, analysts expect that Safe Bulkers will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.16 to $0.31. For the next financial year, analysts expect that the business will post earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Safe Bulkers.

Safe Bulkers (NYSE:SB) last released its earnings results on Wednesday, July 25th. The shipping company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $47.00 million for the quarter, compared to the consensus estimate of $46.45 million. Safe Bulkers had a net margin of 11.47% and a return on equity of 21.84%. The business’s revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) earnings per share.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its holdings in 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 purchasing an additional 493,652 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Safe Bulkers by 139.9% in the 2nd quarter. Macquarie Group Ltd. now owns 138,400 shares of the shipping company’s stock worth $471,000 after purchasing an additional 80,700 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Safe Bulkers by 154.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,522 shares of the shipping company’s stock worth $100,000 after purchasing an additional 17,941 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 worth $10,696,000 after purchasing an additional 542,822 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in 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 purchasing an additional 298,282 shares in the last quarter. 21.28% of the stock is owned by institutional investors and hedge funds.

Shares of Safe Bulkers stock traded up $0.08 during trading on Friday, reaching $2.63. 4,291 shares of the company’s stock were exchanged, compared to its average volume of 362,974. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.93 and a current ratio of 0.93. Safe Bulkers has a 1-year low of $2.51 and a 1-year high of $3.99. The stock has a market capitalization of $267.09 million, a P/E ratio of -16.00 and a beta of 2.40.

Safe Bulkers Company Profile

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.

Read More: NASDAQ Stock Market Explained

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.