Brokerages predict that Safe Bulkers, Inc. (NYSE:SB) will post $51.94 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Safe Bulkers’ earnings. The lowest sales estimate is $50.52 million and the highest is $53.35 million. Safe Bulkers reported sales of $52.57 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The business is expected to issue its next earnings report on Tuesday, February 18th.
On average, analysts expect that Safe Bulkers will report full year sales of $192.79 million for the current year, with estimates ranging from $186.38 million to $199.19 million. For the next fiscal year, analysts anticipate that the company will post sales of $228.70 million, with estimates ranging from $227.70 million to $229.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Safe Bulkers.
SB has been the topic of several analyst reports. ValuEngine upgraded shares of Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research cut shares of Safe Bulkers from a “hold” rating to a “sell” rating in a report on Saturday, January 25th.
Shares of NYSE:SB traded down $0.03 during trading hours on Friday, hitting $1.37. The stock had a trading volume of 465,900 shares, compared to its average volume of 309,664. The stock’s fifty day simple moving average is $1.51 and its 200 day simple moving average is $1.74. Safe Bulkers has a 1-year low of $1.25 and a 1-year high of $2.38. The firm has a market capitalization of $141.78 million, a price-to-earnings ratio of 12.46 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.35 and a current ratio of 1.35.
Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Safe Bulkers by 5.1% in the fourth quarter. Renaissance Technologies LLC now owns 4,648,389 shares of the shipping company’s stock valued at $7,902,000 after acquiring an additional 227,403 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Safe Bulkers by 0.4% in the second quarter. BlackRock Inc. now owns 2,561,522 shares of the shipping company’s stock valued at $3,996,000 after acquiring an additional 9,360 shares in the last quarter. State Street Corp boosted its holdings in shares of Safe Bulkers by 6.0% in the third quarter. State Street Corp now owns 763,116 shares of the shipping company’s stock valued at $1,335,000 after acquiring an additional 42,973 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Safe Bulkers by 5.8% in the third quarter. California Public Employees Retirement System now owns 484,900 shares of the shipping company’s stock valued at $849,000 after acquiring an additional 26,600 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Safe Bulkers by 6.2% in the second quarter. Northern Trust Corp now owns 454,723 shares of the shipping company’s stock valued at $710,000 after acquiring an additional 26,368 shares in the last quarter. Institutional investors and hedge funds own 16.58% of the company’s stock.
Safe Bulkers Company Profile
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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