Zacks: Analysts Anticipate Safe Bulkers, Inc (SB) Will Post Quarterly Sales of $36.76 Million
Equities research analysts expect Safe Bulkers, Inc (NYSE:SB) to report sales of $36.76 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Safe Bulkers’ earnings. The lowest sales estimate is $33.40 million and the highest is $39.76 million. Safe Bulkers reported sales of $31.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.9%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Safe Bulkers will report full-year sales of $36.76 million for the current year, with estimates ranging from $124.42 million to $143.86 million. For the next year, analysts expect that the business will report sales of $168.75 million per share, with estimates ranging from $143.80 million to $211.19 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Safe Bulkers.
Safe Bulkers (NYSE:SB) last released its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. The firm had revenue of $38.80 million during the quarter, compared to the consensus estimate of $37.12 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up 37.6% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. Stifel Nicolaus reissued a “hold” rating and set a $2.25 target price on shares of Safe Bulkers in a research note on Wednesday, July 19th. Zacks Investment Research downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub downgraded Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Maxim Group assumed coverage on Safe Bulkers in a research note on Monday, August 21st. They set a “buy” rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $3.00.
Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in shares of Safe Bulkers during the second quarter worth about $117,000. Rhumbline Advisers acquired a new stake in shares of Safe Bulkers during the second quarter worth about $117,000. Engineers Gate Manager LP acquired a new stake in shares of Safe Bulkers during the second quarter worth about $131,000. Credit Suisse AG acquired a new stake in shares of Safe Bulkers during the first quarter worth about $140,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Safe Bulkers during the second quarter worth about $190,000. 19.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Safe Bulkers (NYSE:SB) traded up $0.12 on Friday, hitting $3.58. The company had a trading volume of 1,887,673 shares, compared to its average volume of 465,551. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.28 and a quick ratio of 2.28. Safe Bulkers has a 52-week low of $1.09 and a 52-week high of $3.79.
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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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