Safe Bulkers (SB) Set to Announce Quarterly Earnings on Wednesday

Safe Bulkers (NYSE:SBGet Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, May 25th. Analysts expect the company to announce earnings of $0.25 per share for the quarter.

Safe Bulkers (NYSE:SBGet Rating) last announced its quarterly earnings results on Wednesday, March 9th. The shipping company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Safe Bulkers had a net margin of 52.99% and a return on equity of 26.49%. The firm had revenue of $91.97 million during the quarter, compared to the consensus estimate of $91.15 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, analysts expect Safe Bulkers to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of SB traded up $0.15 during trading hours on Friday, reaching $4.40. The stock had a trading volume of 3,716 shares, compared to its average volume of 1,021,787. Safe Bulkers has a 12 month low of $2.98 and a 12 month high of $5.44. The stock has a market capitalization of $535.22 million, a PE ratio of 3.14 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.30 and a current ratio of 1.40. The company’s 50-day moving average is $4.31 and its two-hundred day moving average is $3.99.

The business also recently announced a quarterly dividend, which was paid on Monday, March 28th. Investors of record on Monday, March 21st were given a dividend of $0.05 per share. This is a positive change from Safe Bulkers’s previous quarterly dividend of $0.01. This represents a $0.20 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, March 18th. Safe Bulkers’s dividend payout ratio (DPR) is currently 3.57%.

Several hedge funds have recently bought and sold shares of SB. Morgan Stanley raised its position in shares of Safe Bulkers by 97.4% in the 1st quarter. Morgan Stanley now owns 246,015 shares of the shipping company’s stock worth $603,000 after acquiring an additional 121,389 shares in the last quarter. Invesco Ltd. boosted its stake in Safe Bulkers by 13.1% during the 3rd quarter. Invesco Ltd. now owns 148,688 shares of the shipping company’s stock valued at $769,000 after purchasing an additional 17,198 shares during the last quarter. UBS Group AG boosted its stake in Safe Bulkers by 308.1% during the 3rd quarter. UBS Group AG now owns 133,619 shares of the shipping company’s stock valued at $691,000 after purchasing an additional 100,874 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Safe Bulkers by 73.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,440 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 8,663 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Safe Bulkers by 18.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 197,714 shares of the shipping company’s stock valued at $1,022,000 after purchasing an additional 30,223 shares during the last quarter. 24.94% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on SB shares. Zacks Investment Research raised Safe Bulkers from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research report on Tuesday, March 29th. Jefferies Financial Group started coverage on Safe Bulkers in a research report on Wednesday, April 27th. They set a “hold” rating for the company. Finally, StockNews.com started coverage on Safe Bulkers in a research report on Thursday, March 31st. They set a “buy” rating for the company.

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.

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Earnings History for Safe Bulkers (NYSE:SB)

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