Equities analysts expect that Safe Bulkers, Inc. (NYSE:SB) will announce sales of $48.02 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Safe Bulkers’ earnings, with estimates ranging from $47.20 million to $49.28 million. Safe Bulkers reported sales of $37.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 28.7%. The business is expected to announce its next 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 financial year, with estimates ranging from $181.40 million to $190.42 million. For the next year, analysts anticipate that the company will post sales of $212.44 million, with estimates ranging from $199.67 million to $232.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Safe Bulkers.

Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Wednesday, July 25th. The shipping company reported $0.02 earnings per share 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 business had revenue of $47.00 million during the quarter, compared to analyst estimates of $46.45 million. During the same period in the previous year, the company posted ($0.07) earnings per share. Safe Bulkers’s revenue was up 34.3% compared to the same quarter last year.

SB has been the subject of a number of research analyst reports. Seaport Global Securities raised shares of Safe Bulkers from a “neutral” rating to a “buy” rating and upped their price target for the company from $3.50 to $5.00 in a report on Tuesday, July 31st. Maxim Group reissued a “buy” rating and issued a $6.00 price target on shares of Safe Bulkers in a report on Monday, July 23rd. TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c-” rating in a research note on Wednesday, June 27th. Evercore ISI raised shares of Safe Bulkers from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $4.00 to $4.50 in a research note on Thursday. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Safe Bulkers presently has a consensus rating of “Hold” and a consensus target price of $3.88.

NYSE SB traded up $0.11 on Monday, reaching $2.69. The company’s stock had a trading volume of 9,740 shares, compared to its average volume of 419,997. Safe Bulkers has a twelve month low of $2.51 and a twelve month high of $3.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $292.48 million, a price-to-earnings ratio of -16.81 and a beta of 2.39.

A number of hedge funds have recently bought and sold shares of SB. Dynamic Technology Lab Private Ltd increased its holdings in shares of 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 valued at $100,000 after purchasing an additional 17,941 shares during the period. Northern Trust Corp increased its holdings in shares of Safe Bulkers by 5.0% in the 2nd quarter. Northern Trust Corp now owns 424,684 shares of the shipping company’s stock valued at $1,444,000 after purchasing an additional 20,129 shares during the period. BlackRock Inc. increased its holdings in shares of Safe Bulkers by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,278,130 shares of the shipping company’s stock valued at $7,222,000 after purchasing an additional 23,359 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of Safe Bulkers in the 1st quarter valued at about $120,000. Finally, Element Capital Management LLC acquired a new position in shares of Safe Bulkers in the 1st quarter valued at about $141,000. 21.28% of the stock is owned by institutional investors.

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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