Safe Bulkers, Inc. (SB) Expected to Earn FY2017 Earnings of ($0.21) Per Share

Safe Bulkers, Inc. (NYSE:SB) – Equities researchers at Jefferies Group issued their FY2017 EPS estimates for shares of Safe Bulkers in a research note issued on Monday, according to Zacks Investment Research. Jefferies Group analyst R. Giveans forecasts that the shipping company will earn ($0.21) per share for the year. Jefferies Group has a “Hold” rating and a $3.00 price target 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.

Safe Bulkers (NYSE:SB) last issued its earnings results on Tuesday, October 31st. The shipping company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate 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%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share.

A number of other equities analysts also recently commented on SB. ValuEngine downgraded shares of 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 shares of Safe Bulkers and gave the company a “buy” rating in a report on Sunday, November 19th. Zacks Investment Research raised shares of Safe Bulkers from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Stifel Nicolaus set a $2.00 price target on shares of Safe Bulkers and gave the company a “hold” rating in a report on Saturday, October 21st. Finally, Citigroup increased their target price on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $3.10.

Shares of Safe Bulkers (NYSE SB) traded down $0.05 during trading hours on Wednesday, hitting $3.51. The company’s stock had a trading volume of 549,928 shares, compared to its average volume of 483,803. 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 $1.23 and a fifty-two week high of $3.79. The stock has a market capitalization of $356.36, a price-to-earnings ratio of -18.47 and a beta of 2.27.

Several large investors have recently bought and sold shares of SB. Credit Suisse AG purchased a new position in Safe Bulkers in the 1st quarter valued at approximately $140,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Safe Bulkers in the 2nd quarter valued at $190,000. Rhumbline Advisers acquired a new stake in shares of Safe Bulkers in the 2nd quarter valued at $117,000. Bank of New York Mellon Corp acquired a new stake in shares of Safe Bulkers in the 2nd quarter valued at $307,000. Finally, Engineers Gate Manager LP acquired a new stake in Safe Bulkers during the 2nd quarter worth $131,000. 20.12% of the stock is owned by hedge funds and other institutional investors.

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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.

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