Wall Street analysts expect that Safe Bulkers, Inc. (NYSE:SB) will announce $51.32 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Safe Bulkers’ earnings, with the lowest sales estimate coming in at $50.52 million and the highest estimate coming in at $52.12 million. Safe Bulkers posted sales of $52.57 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 18th.
According to Zacks, analysts expect that Safe Bulkers will report full-year sales of $185.52 million for the current financial year, with estimates ranging from $184.65 million to $186.38 million. For the next year, analysts forecast that the business will report sales of $230.63 million, with estimates ranging from $229.70 million to $231.55 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Safe Bulkers.
Safe Bulkers (NYSE:SB) last issued its quarterly earnings results on Thursday, October 24th. The shipping company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Safe Bulkers had a net margin of 11.05% and a return on equity of 4.92%. The company had revenue of $47.13 million during the quarter, compared to the consensus estimate of $48.67 million.
SB has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Zacks Investment Research cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its position in Safe Bulkers by 341.7% in the 3rd quarter. Millennium Management LLC now owns 435,783 shares of the shipping company’s stock valued at $762,000 after acquiring an additional 337,132 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Safe Bulkers during the 3rd quarter worth approximately $56,000. State Street Corp grew its position in shares of Safe Bulkers by 6.0% during the 3rd quarter. State Street Corp now owns 763,116 shares of the shipping company’s stock worth $1,335,000 after buying an additional 42,973 shares during the period. SG Americas Securities LLC grew its position in shares of Safe Bulkers by 206.4% during the 3rd quarter. SG Americas Securities LLC now owns 79,387 shares of the shipping company’s stock worth $139,000 after buying an additional 53,480 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Safe Bulkers by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 484,900 shares of the shipping company’s stock worth $849,000 after buying an additional 26,600 shares during the period. Hedge funds and other institutional investors own 16.58% of the company’s stock.
NYSE:SB opened at $1.60 on Friday. The company has a 50-day moving average of $1.69 and a 200-day moving average of $1.83. The company has a market capitalization of $162.03 million, a price-to-earnings ratio of 14.55 and a beta of 1.60. Safe Bulkers has a 52 week low of $1.28 and a 52 week high of $2.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.35 and a current ratio of 1.35.
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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