$0.25 Earnings Per Share Expected for Safe Bulkers, Inc. (NYSE:SB) This Quarter

Equities analysts predict that Safe Bulkers, Inc. (NYSE:SBGet Rating) will announce $0.25 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Safe Bulkers’ earnings, with estimates ranging from $0.19 to $0.28. Safe Bulkers posted earnings of $0.14 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 78.6%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Safe Bulkers will report full-year earnings of $1.30 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.43. For the next year, analysts expect that the business will post earnings of $1.27 per share, with EPS estimates ranging from $0.88 to $1.61. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Safe Bulkers.

Safe Bulkers (NYSE:SBGet Rating) last issued its earnings results on Wednesday, March 9th. The shipping company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $91.97 million for the quarter, compared to analyst estimates of $91.15 million. Safe Bulkers had a return on equity of 26.49% and a net margin of 52.99%. During the same period last year, the business posted $0.04 EPS.

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Safe Bulkers in a research note on Wednesday. They set a “hold” rating for the company. StockNews.com began coverage on shares of Safe Bulkers in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a report on Tuesday, March 29th.

Several large investors have recently modified their holdings of SB. Citigroup Inc. increased its stake in Safe Bulkers by 176.5% in the 3rd quarter. Citigroup Inc. now owns 7,219 shares of the shipping company’s stock valued at $37,000 after buying an additional 4,608 shares during the period. Koshinski Asset Management Inc. boosted its holdings in Safe Bulkers by 1,559.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 9,741 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 9,154 shares during the period. Salvus Wealth Management LLC bought a new stake in Safe Bulkers in the 4th quarter valued at $50,000. ProShare Advisors LLC bought a new stake in Safe Bulkers in the 4th quarter valued at $52,000. Finally, Toroso Investments LLC raised its stake in shares of Safe Bulkers by 24.6% in the 4th quarter. Toroso Investments LLC now owns 16,828 shares of the shipping company’s stock valued at $63,000 after buying an additional 3,319 shares in the last quarter. 30.62% of the stock is owned by institutional investors.

Safe Bulkers stock opened at $4.20 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.40 and a quick ratio of 1.30. Safe Bulkers has a 1-year low of $2.98 and a 1-year high of $5.44. The company has a market cap of $510.89 million, a PE ratio of 3.00 and a beta of 0.65. The stock’s 50 day moving average price is $4.37 and its 200 day moving average price is $4.05.

The company also recently announced a quarterly dividend, which was paid on Monday, March 28th. Shareholders of record on Monday, March 21st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.76%. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.01. The ex-dividend date was Friday, March 18th. Safe Bulkers’s payout ratio is presently 3.57%.

Safe Bulkers Company Profile (Get Rating)

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of March 18, 2022, the company had a fleet of 40 drybulk vessels having an average age of 10.4 years; and an aggregate carrying capacity of 3,925,500 deadweight tons.

Further Reading

Get a free copy of the Zacks research report on Safe Bulkers (SB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Safe Bulkers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safe Bulkers and related companies with MarketBeat.com's FREE daily email newsletter.