Brokers Offer Predictions for Safe Bulkers, Inc.’s Q1 2023 Earnings (NYSE:SB)

Safe Bulkers, Inc. (NYSE:SBGet Rating) – Research analysts at Jefferies Financial Group issued their Q1 2023 earnings estimates for shares of Safe Bulkers in a research note issued to investors on Thursday, July 28th. Jefferies Financial Group analyst C. Robertson expects that the shipping company will post earnings per share of $0.33 for the quarter. Jefferies Financial Group has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for Safe Bulkers’ current full-year earnings is $1.26 per share. Jefferies Financial Group also issued estimates for Safe Bulkers’ Q1 2024 earnings at $0.34 EPS and Q2 2024 earnings at $0.34 EPS.

Safe Bulkers Trading Down 2.0 %

NYSE:SB opened at $3.86 on Monday. Safe Bulkers has a one year low of $3.02 and a one year high of $5.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $469.53 million, a P/E ratio of 2.57 and a beta of 0.81. The firm has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $4.11.

Safe Bulkers (NYSE:SBGet Rating) last announced its quarterly earnings data on Wednesday, May 25th. The shipping company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Safe Bulkers had a net margin of 55.01% and a return on equity of 26.55%. The company had revenue of $73.41 million for the quarter, compared to the consensus estimate of $73.59 million. During the same quarter in the previous year, the business earned $0.14 EPS.

Safe Bulkers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 22nd will be issued a $0.05 dividend. The ex-dividend date is Friday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 5.18%. Safe Bulkers’s dividend payout ratio is currently 13.33%.

Institutional Investors Weigh In On Safe Bulkers

Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Safe Bulkers by 12.1% in the 1st quarter. Renaissance Technologies LLC now owns 4,107,086 shares of the shipping company’s stock valued at $19,550,000 after purchasing an additional 442,400 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Safe Bulkers by 16.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,246,544 shares of the shipping company’s stock valued at $15,431,000 after purchasing an additional 452,602 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Safe Bulkers by 16.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,612,753 shares of the shipping company’s stock valued at $12,437,000 after purchasing an additional 372,140 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Safe Bulkers by 514.2% in the 1st quarter. JPMorgan Chase & Co. now owns 583,167 shares of the shipping company’s stock valued at $2,776,000 after purchasing an additional 488,221 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Safe Bulkers by 28.4% in the 1st quarter. Vanguard Group Inc. now owns 558,123 shares of the shipping company’s stock valued at $2,656,000 after purchasing an additional 123,308 shares in the last quarter. Institutional investors own 24.94% of the company’s stock.

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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