Safe Bulkers (NYSE:SB) released its quarterly earnings results on Wednesday. The shipping company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01), Fidelity Earnings reports. The company had revenue of $50.10 million during the quarter, compared to the consensus estimate of $48.08 million. Safe Bulkers had a return on equity of 21.84% and a net margin of 11.47%.
NYSE:SB traded down $0.01 during mid-day trading on Thursday, hitting $2.47. 234,433 shares of the company’s stock traded hands, compared to its average volume of 413,221. Safe Bulkers has a twelve month low of $2.31 and a twelve month high of $3.99. The firm has a market capitalization of $255.92 million, a P/E 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.
SB has been the subject of several recent research reports. Zacks Investment Research lowered Safe Bulkers from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 4th. TheStreet lowered Safe Bulkers from a “c-” rating to a “d+” rating in a research report on Thursday, September 6th. Evercore ISI raised Safe Bulkers from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $4.00 to $4.50 in a research report on Thursday, October 18th. They noted that the move was a valuation call. ValuEngine lowered Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Maxim Group reaffirmed a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.07.
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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