Zacks: Brokerages Anticipate Safe Bulkers, Inc. (NYSE:SB) to Post $0.06 EPS

Wall Street brokerages forecast that Safe Bulkers, Inc. (NYSE:SB) will post earnings of $0.06 per share for the current quarter, Zacks reports. Two analysts have made estimates for Safe Bulkers’ earnings. The lowest EPS estimate is $0.05 and the highest is $0.06. Safe Bulkers reported earnings of $0.07 per share in the same quarter last year, which indicates a negative year over year growth rate of 14.3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from $0.09 to $0.10. For the next year, analysts forecast that the firm will report earnings of $0.26 per share, with EPS estimates ranging from $0.20 to $0.31. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Safe Bulkers.

Several brokerages recently issued reports on SB. Zacks Investment Research downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Saturday, January 25th. ValuEngine raised Safe Bulkers from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd.

Shares of NYSE SB traded down $0.03 during trading on Friday, hitting $1.37. The company had a trading volume of 465,900 shares, compared to its average volume of 309,664. The stock has a 50 day simple moving average of $1.51 and a 200 day simple moving average of $1.74. The firm has a market capitalization of $141.78 million, a P/E ratio of 12.46 and a beta of 1.62. Safe Bulkers has a 12 month low of $1.25 and a 12 month 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.

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Safe Bulkers by 206.4% in the 3rd quarter. SG Americas Securities LLC now owns 79,387 shares of the shipping company’s stock worth $139,000 after acquiring an additional 53,480 shares during the last quarter. State Street Corp increased its stake in Safe Bulkers by 6.0% in the 3rd quarter. State Street Corp now owns 763,116 shares of the shipping company’s stock worth $1,335,000 after acquiring an additional 42,973 shares during the last quarter. Millennium Management LLC increased its stake in Safe Bulkers by 341.7% in the 3rd quarter. Millennium Management LLC now owns 435,783 shares of the shipping company’s stock worth $762,000 after acquiring an additional 337,132 shares during the last quarter. Rhumbline Advisers increased its stake in Safe Bulkers by 9.8% in the 3rd quarter. Rhumbline Advisers now owns 80,092 shares of the shipping company’s stock worth $140,000 after acquiring an additional 7,142 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Safe Bulkers in the 3rd quarter worth approximately $56,000. 16.58% of the stock is currently owned by institutional investors.

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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