Safe Bulkers (NYSE:SB) Releases Earnings Results, Misses Estimates By $0.04 EPS

Safe Bulkers (NYSE:SB) posted its earnings results on Tuesday. The shipping company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04), Morningstar.com reports. Safe Bulkers had a net margin of 12.51% and a return on equity of 5.46%. The business had revenue of $45.52 million during the quarter, compared to analysts’ expectations of $45.65 million.

SB stock opened at $2.06 on Friday. The firm has a fifty day moving average price of $1.95 and a 200 day moving average price of $1.67. Safe Bulkers has a fifty-two week low of $1.28 and a fifty-two week high of $3.05. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $207.61 million, a PE ratio of 12.12 and a beta of 1.66.

A number of research firms recently weighed in on SB. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “strong-buy” rating and set a $2.50 target price for the company in a report on Wednesday, July 31st. ValuEngine raised shares of Safe Bulkers from a “strong sell” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Safe Bulkers presently has an average rating of “Buy” and an average target price of $3.63.



Hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in Safe Bulkers in the second quarter worth $35,000. Marshall Wace North America L.P. bought a new stake in Safe Bulkers in the second quarter worth $48,000. Parametric Portfolio Associates LLC lifted its position in Safe Bulkers by 73.2% in the second quarter. Parametric Portfolio Associates LLC now owns 110,003 shares of the shipping company’s stock worth $172,000 after buying an additional 46,480 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Safe Bulkers by 19.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 110,082 shares of the shipping company’s stock worth $172,000 after buying an additional 18,302 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Safe Bulkers by 4.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,140 shares of the shipping company’s stock worth $250,000 after buying an additional 7,065 shares during the last quarter. 15.67% of the stock is owned by hedge funds and other institutional investors.

About Safe Bulkers

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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