$50.87 Million in Sales Expected for Safe Bulkers, Inc. (SB) This Quarter

Wall Street analysts expect Safe Bulkers, Inc. (NYSE:SB) to post sales of $50.87 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Safe Bulkers’ earnings, with the highest sales estimate coming in at $53.11 million and the lowest estimate coming in at $47.00 million. Safe Bulkers posted sales of $42.38 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is scheduled to announce its next earnings report on Wednesday, February 13th.

According to Zacks, analysts expect that Safe Bulkers will report full-year sales of $186.11 million for the current financial year, with estimates ranging from $181.40 million to $188.60 million. For the next financial year, analysts anticipate that the company will report sales of $217.28 million, with estimates ranging from $199.67 million to $232.80 million. Zacks’ sales 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, November 7th. The shipping company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $50.10 million during the quarter, compared to analyst estimates of $48.08 million. Safe Bulkers had a net margin of 11.47% and a return on equity of 21.84%.

Several equities research analysts have recently commented on SB shares. Seaport Global Securities raised Safe Bulkers from a “neutral” rating to a “buy” rating and increased their price objective 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 objective on shares of Safe Bulkers in a report on Monday, July 23rd. TheStreet downgraded Safe Bulkers from a “c-” rating to a “d+” rating in a report on Thursday, September 6th. Zacks Investment Research raised Safe Bulkers from a “strong sell” rating to a “hold” rating in a report on Saturday, October 27th. Finally, Evercore ISI raised Safe Bulkers from an “in-line” rating to an “outperform” rating and raised their price target for the company from $4.00 to $4.50 in a report on Thursday, October 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.07.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Safe Bulkers by 20.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,145,922 shares of the shipping company’s stock valued at $10,696,000 after purchasing an additional 542,822 shares during the last quarter. BlackRock Inc. lifted its holdings in Safe Bulkers by 13.1% during the 2nd quarter. BlackRock Inc. now owns 2,576,412 shares of the shipping company’s stock valued at $8,760,000 after purchasing an additional 298,282 shares during the last quarter. Millennium Management LLC lifted its holdings in Safe Bulkers by 97.7% during the 2nd quarter. Millennium Management LLC now owns 999,095 shares of the shipping company’s stock valued at $3,397,000 after purchasing an additional 493,652 shares during the last quarter. UBS Group AG lifted its holdings in Safe Bulkers by 14.9% during the 1st quarter. UBS Group AG now owns 752,400 shares of the shipping company’s stock valued at $2,385,000 after purchasing an additional 97,344 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Safe Bulkers by 5.0% during 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 last quarter. 21.16% of the stock is owned by institutional investors and hedge funds.

NYSE SB opened at $2.47 on Friday. The company has a market capitalization of $255.92 million, a PE ratio of -15.44 and a beta of 2.30. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.93 and a quick ratio of 0.93. Safe Bulkers has a 12 month low of $2.31 and a 12 month high of $3.99.

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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