FY2017 Earnings Estimate for Safe Bulkers, Inc. (SB) Issued By Jefferies Group
Safe Bulkers, Inc. (NYSE:SB) – Equities researchers at Jefferies Group issued their FY2017 earnings per share (EPS) estimates for shares of Safe Bulkers in a research report issued to clients and investors on Monday. Jefferies Group analyst R. Giveans forecasts that the shipping company will post earnings per share of ($0.21) for the year. Jefferies Group currently has a “Hold” rating and a $3.00 target price on the stock. Jefferies Group also issued estimates for Safe Bulkers’ Q4 2017 earnings at ($0.02) EPS and FY2018 earnings at $0.04 EPS.
Several other analysts have also commented on the company. ValuEngine lowered Safe Bulkers from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Maxim Group set a $5.00 price objective on Safe Bulkers and gave the company a “buy” rating in a research report on Sunday, November 19th. Citigroup lifted their price objective on Safe Bulkers from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Safe Bulkers from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Stifel Nicolaus set a $2.00 price objective on Safe Bulkers and gave the company a “hold” rating in a research report on Saturday, October 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Safe Bulkers has a consensus rating of “Hold” and an average price target of $3.10.
Safe Bulkers (NYSE:SB) last announced its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $38.80 million for the quarter, compared to analyst estimates 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 previous year, the firm earned ($0.15) EPS.
A number of institutional investors and hedge funds have recently modified their holdings of SB. Cortina Asset Management LLC bought a new stake in shares of Safe Bulkers during the third quarter worth $3,879,000. State Street Corp bought a new stake in shares of Safe Bulkers during the second quarter worth $1,088,000. Northern Trust Corp bought a new stake in shares of Safe Bulkers during the second quarter worth $943,000. Edmond DE Rothschild Holding S.A. raised its position in shares of Safe Bulkers by 168.1% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 344,475 shares of the shipping company’s stock worth $789,000 after acquiring an additional 215,975 shares during the last quarter. Finally, EAM Investors LLC bought a new stake in shares of Safe Bulkers during the third quarter worth $485,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.
Safe Bulkers Company Profile
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.
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