$38.68 Million in Sales Expected for Safe Bulkers, Inc (SB) This Quarter
Equities research analysts expect Safe Bulkers, Inc (NYSE:SB) to report sales of $38.68 million for the current quarter, according to Zacks. Three analysts have provided estimates for Safe Bulkers’ earnings, with the lowest sales estimate coming in at $37.13 million and the highest estimate coming in at $39.81 million. Safe Bulkers reported sales of $31.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Safe Bulkers will report full year sales of $38.68 million for the current year, with estimates ranging from $124.42 million to $143.86 million. For the next fiscal year, analysts forecast that the business will post sales of $168.99 million per share, with estimates ranging from $146.30 million to $211.19 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Safe Bulkers.
Safe Bulkers (NYSE:SB) last announced its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $37.12 million. Safe Bulkers had a negative return on equity of 2.10% and a negative net margin of 2.01%. Safe Bulkers’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS.
A number of equities research analysts have commented on SB shares. Zacks Investment Research cut Safe Bulkers from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Maxim Group set a $5.00 target price on Safe Bulkers and gave the company a “buy” rating in a report on Thursday, October 19th. BidaskClub cut Safe Bulkers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus set a $2.00 target price on Safe Bulkers and gave the company a “hold” rating in a report on Saturday, October 21st. Finally, Citigroup Inc. increased their target price on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.00.
Shares of Safe Bulkers (NYSE SB) opened at $3.16 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.00. Safe Bulkers has a fifty-two week low of $1.09 and a fifty-two week high of $3.79.
Hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Safe Bulkers during the third quarter worth $101,000. Rhumbline Advisers acquired a new stake in shares of Safe Bulkers during the second quarter worth $117,000. New York State Common Retirement Fund acquired a new stake in shares of Safe Bulkers during the second quarter worth $117,000. Macquarie Group Ltd. acquired a new stake in shares of Safe Bulkers during the third quarter worth $142,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Safe Bulkers during the second quarter worth $131,000. Institutional investors and hedge funds own 18.87% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “$38.68 Million in Sales Expected for Safe Bulkers, Inc (SB) This Quarter” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/11/15/38-68-million-in-sales-expected-for-safe-bulkers-inc-sb-this-quarter.html.
About Safe Bulkers
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Safe Bulkers Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers Inc and related stocks with our FREE daily email newsletter.