Q3 2017 EPS Estimates for Safe Bulkers, Inc (NYSE:SB) Lifted by Analyst
Safe Bulkers, Inc (NYSE:SB) – Research analysts at Seaport Global Securities increased their Q3 2017 earnings per share estimates for shares of Safe Bulkers in a note issued to investors on Thursday. Seaport Global Securities analyst M. Fyhr now expects that the shipping company will earn ($0.05) per share for the quarter, up from their previous estimate of ($0.07).
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC upped their target price on shares of Safe Bulkers from $1.50 to $2.50 and gave the company a “hold” rating in a research note on Monday, April 24th. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Friday, April 21st. BidaskClub cut shares of Safe Bulkers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. TheStreet raised shares of Safe Bulkers from a “d+” rating to a “c-” rating in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $2.25 target price on shares of Safe Bulkers in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Safe Bulkers has a consensus rating of “Hold” and an average price target of $2.25.
Safe Bulkers (SB) opened at 2.65 on Monday. The company’s market cap is $268.61 million. Safe Bulkers has a one year low of $1.09 and a one year high of $2.75. The firm has a 50-day moving average of $2.43 and a 200-day moving average of $2.01.
Safe Bulkers (NYSE:SB) last issued its earnings results on Wednesday, July 26th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.02. Safe Bulkers had a negative return on equity of 3.29% and a negative net margin of 26.74%. The business had revenue of $35.01 million during the quarter, compared to the consensus estimate of $36.81 million. During the same period in the prior year, the business earned ($0.15) EPS. The business’s revenue was up 33.6% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in SB. Renaissance Technologies LLC raised its position in Safe Bulkers by 335.2% in the first quarter. Renaissance Technologies LLC now owns 1,269,600 shares of the shipping company’s stock worth $2,793,000 after buying an additional 977,900 shares during the period. Phoenix Investment Adviser LLC raised its position in Safe Bulkers by 3.9% in the first quarter. Phoenix Investment Adviser LLC now owns 573,992 shares of the shipping company’s stock worth $1,263,000 after buying an additional 21,775 shares during the period. Goldman Sachs Group Inc. raised its position in Safe Bulkers by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 472,963 shares of the shipping company’s stock worth $1,041,000 after buying an additional 171,813 shares during the period. KCG Holdings Inc. raised its position in Safe Bulkers by 342.8% in the first quarter. KCG Holdings Inc. now owns 350,905 shares of the shipping company’s stock worth $772,000 after buying an additional 271,650 shares during the period. Finally, EAM Investors LLC purchased a new position in Safe Bulkers during the first quarter worth approximately $683,000. Hedge funds and other institutional investors own 14.85% of the company’s stock.
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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