Equities research analysts expect Safe Bulkers, Inc. (NYSE:SB) to announce earnings per share of $0.05 for the current quarter, according to Zacks. Three analysts have made estimates for Safe Bulkers’ earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Safe Bulkers reported earnings per share of ($0.05) during the same quarter last year, which would suggest a positive year over year growth rate of 200%. The firm is expected to announce its next quarterly 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 year, analysts expect that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.34 to $0.71. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Safe Bulkers.

Safe Bulkers (NYSE:SB) last released its quarterly earnings data on Wednesday, July 25th. The shipping company reported $0.02 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 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 company’s revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS.

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

Large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in shares of Safe Bulkers during the second quarter valued at approximately $187,000. Millennium Management LLC boosted its position in Safe Bulkers by 375.5% in the first quarter. Millennium Management LLC now owns 505,443 shares of the shipping company’s stock worth $1,602,000 after purchasing an additional 399,141 shares during the last quarter. Renaissance Technologies LLC boosted its position in Safe Bulkers by 20.9% in the second 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Safe Bulkers in the second quarter worth $175,000. Finally, UBS Group AG boosted its position in Safe Bulkers by 14.9% in the first quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock worth $2,385,000 after purchasing an additional 97,344 shares during the last quarter. 21.28% of the stock is currently owned by institutional investors.

Shares of NYSE SB traded up $0.07 during midday trading on Friday, hitting $2.63. 228,654 shares of the stock traded hands, compared to its average volume of 424,022. The company has a market cap of $292.48 million, a price-to-earnings ratio of -16.44 and a beta of 2.39. Safe Bulkers has a one year low of $2.51 and a one year high of $3.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.08.

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.

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

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