Safe Bulkers (SB) Expected to Announce Quarterly Sales of $41.10 Million

Equities analysts predict that Safe Bulkers (NYSE:SB) will announce sales of $41.10 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Safe Bulkers’ earnings. The lowest sales estimate is $40.50 million and the highest is $41.40 million. Safe Bulkers posted sales of $33.33 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.3%. The business is scheduled to issue its next earnings report on Thursday, May 17th.

On average, analysts expect that Safe Bulkers will report full-year sales of $41.10 million for the current year, with estimates ranging from $163.50 million to $196.69 million. For the next year, analysts forecast that the company will post sales of $204.98 million per share, with estimates ranging from $195.75 million to $213.87 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Safe Bulkers.

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Safe Bulkers (NYSE:SB) last announced its earnings results on Wednesday, February 14th. The shipping company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $44.00 million for the quarter, compared to the consensus estimate of $38.12 million. Safe Bulkers had a net margin of 3.26% and a return on equity of 16.52%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS.

Several analysts have commented on SB shares. Maxim Group reaffirmed a “buy” rating and set a $5.50 price target (up from $5.00) on shares of Safe Bulkers in a research note on Thursday, February 15th. Jefferies Group initiated coverage on shares of Safe Bulkers in a research note on Monday, December 18th. They set a “hold” rating and a $3.00 price target for the company. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research note on Thursday, January 25th. Stifel Nicolaus set a $3.00 price target on shares of Safe Bulkers and gave the stock a “hold” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley cut shares of Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $3.71.

Several institutional investors and hedge funds have recently modified their holdings of SB. Municipal Employees Retirement System of Michigan bought a new position in shares of Safe Bulkers in the fourth quarter valued at $306,000. Millennium Management LLC grew its stake in shares of Safe Bulkers by 37.3% in the fourth quarter. Millennium Management LLC now owns 106,302 shares of the shipping company’s stock valued at $343,000 after buying an additional 28,901 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Safe Bulkers by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 108,476 shares of the shipping company’s stock valued at $350,000 after buying an additional 80,526 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Safe Bulkers by 14.2% in the fourth quarter. Two Sigma Advisers LP now owns 320,700 shares of the shipping company’s stock valued at $1,036,000 after buying an additional 39,853 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Safe Bulkers by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,322,800 shares of the shipping company’s stock valued at $7,503,000 after buying an additional 197,838 shares in the last quarter. 22.42% of the stock is owned by institutional investors.

Shares of SB stock opened at $2.91 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.03 and a current ratio of 2.14. The company has a market cap of $295.47, a price-to-earnings ratio of -18.19 and a beta of 1.94. Safe Bulkers has a 52 week low of $1.76 and a 52 week high of $3.99.

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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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