Safe Bulkers (NYSE:SB) issued its quarterly earnings results on Wednesday. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Fidelity Earnings reports. The business had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $48.08 million. Safe Bulkers had a return on equity of 21.84% and a net margin of 11.47%.
Shares of NYSE SB traded down $0.04 during midday trading on Friday, hitting $2.43. The stock had a trading volume of 163,537 shares, compared to its average volume of 300,059. The company has a market cap of $255.92 million, a PE ratio of -15.19 and a beta of 2.30. Safe Bulkers has a 1 year low of $2.31 and a 1 year high of $3.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.93 and a quick ratio of 0.93.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Safe Bulkers from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 27th. Seaport Global Securities upgraded Safe Bulkers from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.50 to $5.00 in a research report on Tuesday, July 31st. Jefferies Financial Group upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Friday. Maxim Group reiterated a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a research report on Monday, July 23rd. Finally, ValuEngine downgraded Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.21.
Safe Bulkers, Inc provides marine drybulk transportation services worldwide. It is involved in the acquisition, ownership, and operation of drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. As of February 9, 2018, the company had a fleet of 39 drybulk vessels with an aggregate carrying capacity of 3,513,800 deadweight tons.
Featured Story: Swap
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.