Safe Bulkers (SB) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Safe Bulkers (NYSE:SB) announced its quarterly earnings data on Tuesday. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02, Morningstar.com reports. Safe Bulkers had a return on equity of 6.30% and a net margin of 14.19%.

SB stock opened at $1.54 on Wednesday. The company has a market cap of $165.13 million, a P/E ratio of 9.47 and a beta of 1.73. Safe Bulkers has a fifty-two week low of $1.28 and a fifty-two week high of $3.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.85 and a quick ratio of 1.78.

Several brokerages have recently issued reports on SB. ValuEngine cut Safe Bulkers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. TheStreet upgraded Safe Bulkers from a “d+” rating to a “c” rating in a research note on Friday, April 12th. Finally, Maxim Group decreased their price objective on Safe Bulkers to $3.50 and set a “buy” rating for the company in a research note on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.25.



Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Safe Bulkers during the fourth quarter worth approximately $37,000. Acadian Asset Management LLC purchased a new stake in Safe Bulkers during the first quarter worth approximately $45,000. Rhumbline Advisers lifted its stake in Safe Bulkers by 40.6% during the fourth quarter. Rhumbline Advisers now owns 69,840 shares of the shipping company’s stock worth $124,000 after purchasing an additional 20,183 shares during the last quarter. Barclays PLC lifted its stake in Safe Bulkers by 284.7% during the fourth quarter. Barclays PLC now owns 106,971 shares of the shipping company’s stock worth $191,000 after purchasing an additional 79,168 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Safe Bulkers during the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors own 16.12% of the company’s stock.

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Safe Bulkers Company Profile

Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 14, 2019, the company had a fleet of 41 drybulk vessels having an average age of 8.5 years; and an aggregate carrying capacity of 3.8 million deadweight tons.

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Earnings History for Safe Bulkers (NYSE:SB)

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