Safe Bulkers, Inc. (NYSE:SB) Expected to Post Earnings of $0.06 Per Share

Equities analysts expect that Safe Bulkers, Inc. (NYSE:SB) will post earnings of $0.06 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Safe Bulkers’ earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. Safe Bulkers reported earnings of $0.07 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The firm is expected to report its next earnings results on Tuesday, February 18th.

On average, analysts expect that Safe Bulkers will report full year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from $0.09 to $0.10. For the next financial year, analysts expect that the company will post earnings of $0.26 per share, with EPS estimates ranging from $0.20 to $0.31. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Safe Bulkers.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Saturday, January 25th. ValuEngine upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd.

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake 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 valued at $172,000 after buying an additional 18,302 shares in the last quarter. Northern Trust Corp raised its stake in Safe Bulkers by 6.2% in the second quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock valued at $710,000 after buying an additional 26,368 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake 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 valued at $172,000 after buying an additional 46,480 shares in the last quarter. BlackRock Inc. raised its stake in Safe Bulkers by 0.4% in the second quarter. BlackRock Inc. now owns 2,561,522 shares of the shipping company’s stock valued at $3,996,000 after buying an additional 9,360 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Safe Bulkers by 66.7% in the third quarter. Meeder Asset Management Inc. now owns 17,612 shares of the shipping company’s stock valued at $30,000 after buying an additional 7,048 shares in the last quarter. Institutional investors and hedge funds own 16.58% of the company’s stock.

Shares of Safe Bulkers stock traded down $0.03 during trading on Friday, reaching $1.37. The company had a trading volume of 465,900 shares, compared to its average volume of 309,664. The company has a market cap of $141.78 million, a price-to-earnings ratio of 12.46 and a beta of 1.62. The firm’s fifty day moving average is $1.51 and its 200-day moving average is $1.74. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.35 and a current ratio of 1.35. Safe Bulkers has a fifty-two week low of $1.25 and a fifty-two week high of $2.38.

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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