Equities research analysts predict that Safe Bulkers, Inc. (NYSE:SB) will post $48.02 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Safe Bulkers’ earnings, with the lowest sales estimate coming in at $47.20 million and the highest estimate coming in at $49.28 million. Safe Bulkers reported sales of $37.32 million in the same quarter last year, which indicates a positive year over year growth rate of 28.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 30th.

On average, analysts expect that Safe Bulkers will report full-year sales of $185.67 million for the current year, with estimates ranging from $181.40 million to $190.42 million. For the next financial year, analysts forecast that the business will report sales of $212.44 million per share, with estimates ranging from $199.67 million to $232.80 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Safe Bulkers.

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

Several equities analysts have weighed in on SB shares. Seaport Global Securities upgraded shares of Safe Bulkers from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.50 to $5.00 in a report on Tuesday, July 31st. Maxim Group restated a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a report on Monday, July 23rd. TheStreet upgraded shares of Safe Bulkers from a “d+” rating to a “c-” rating in a report on Wednesday, June 27th. Zacks Investment Research downgraded shares of Safe Bulkers from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, ValuEngine upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.79.

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd boosted its stake in shares of Safe Bulkers by 154.9% during 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 during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Safe Bulkers during the 1st quarter worth about $120,000. Element Capital Management LLC acquired a new stake in shares of Safe Bulkers during the 1st quarter worth about $141,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Safe Bulkers during the 2nd quarter worth about $175,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Safe Bulkers in the second quarter worth approximately $187,000. 21.28% of the stock is currently owned by institutional investors.

NYSE:SB traded up $0.08 during mid-day trading on Tuesday, hitting $2.63. 4,291 shares of the company’s stock traded hands, compared to its average volume of 362,974. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.08. Safe Bulkers has a 1 year low of $2.51 and a 1 year high of $3.99. The company 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.

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

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