Safe Bulkers (NYSE:SB) released its quarterly earnings results on Tuesday. The shipping company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01, Briefing.com reports. The company had revenue of $43.50 million during the quarter, compared to the consensus estimate of $43.70 million. Safe Bulkers had a return on equity of 18.80% and a net margin of 8.77%. Safe Bulkers’s revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share.
SB stock opened at $3.17 on Thursday. Safe Bulkers has a 52-week low of $1.76 and a 52-week high of $3.99. 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 firm has a market cap of $314.76 million, a PE ratio of -19.81 and a beta of 1.96.
SB has been the subject of several recent research reports. ValuEngine raised Safe Bulkers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Wednesday, April 25th. Stifel Nicolaus set a $3.00 price target on Safe Bulkers and gave the stock a “hold” rating in a research report on Monday, April 23rd. Morgan Stanley downgraded Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research report on Monday, February 12th. Finally, TheStreet downgraded Safe Bulkers from a “c” rating to a “d+” rating in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.50.
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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