Wall Street analysts predict that Safe Bulkers, Inc. (NYSE:SB) will post $84.19 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Safe Bulkers’ earnings. The lowest sales estimate is $73.20 million and the highest is $92.07 million. Safe Bulkers posted sales of $47.51 million during the same quarter last year, which suggests a positive year over year growth rate of 77.2%. The company is scheduled to report its next quarterly earnings report on Monday, February 21st.
According to Zacks, analysts expect that Safe Bulkers will report full-year sales of $319.02 million for the current financial year, with estimates ranging from $314.60 million to $323.07 million. For the next financial year, analysts forecast that the business will report sales of $322.03 million, with estimates ranging from $318.70 million to $324.22 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings data on Tuesday, November 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Safe Bulkers had a net margin of 40.43% and a return on equity of 21.30%. The company had revenue of $91.02 million during the quarter, compared to analysts’ expectations of $85.79 million.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. raised its stake in Safe Bulkers by 176.5% during the 3rd quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock worth $37,000 after acquiring an additional 4,608 shares during the period. Sei Investments Co. bought a new stake in Safe Bulkers during the 2nd quarter worth approximately $41,000. Hillsdale Investment Management Inc. bought a new stake in Safe Bulkers during the 3rd quarter worth approximately $58,000. Sigma Planning Corp bought a new stake in Safe Bulkers during the 2nd quarter worth approximately $47,000. Finally, Toroso Investments LLC bought a new stake in Safe Bulkers during the 3rd quarter worth approximately $70,000. 27.74% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:SB traded up $0.12 during midday trading on Thursday, reaching $3.59. 972,155 shares of the stock traded hands, compared to its average volume of 1,486,444. The company has a fifty day moving average of $4.44 and a 200 day moving average of $4.01. Safe Bulkers has a 12 month low of $1.08 and a 12 month high of $5.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.39 and a current ratio of 2.11. The stock has a market capitalization of $428.96 million, a P/E ratio of 3.86 and a beta of 0.56.
About Safe Bulkers
Safe Bulkers, Inc is a holding company, which engages in the ownership and operation of dry bulk vessels. The firm offers marine dry bulk transportation services, transporting bulk cargoes, particularly coal, grain, and iron ore. Its fleet include Panamax, Kamsarmax, Post-Panamax, and Capesize class vessels.
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