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Safe Bulkers (SB) Flat As Market Sinks: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Safe Bulkers (SB) closed at $2.63, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.

Prior to today's trading, shares of the shipping company had lost 17.04% over the past month. This has lagged the Transportation sector's loss of 9.12% and the S&P 500's loss of 4.08% in that time.

Investors will be hoping for strength from Safe Bulkers as it approaches its next earnings release. On that day, Safe Bulkers is projected to report earnings of $0.33 per share, which would represent a year-over-year decline of 17.5%. Our most recent consensus estimate is calling for quarterly revenue of $81.09 million, down 10.91% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.29 per share and revenue of $331.69 million. These totals would mark changes of +2.38% and +3.89%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for Safe Bulkers. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.15% lower within the past month. Safe Bulkers is currently a Zacks Rank #4 (Sell).

Digging into valuation, Safe Bulkers currently has a Forward P/E ratio of 2.04. This valuation marks a discount compared to its industry's average Forward P/E of 3.14.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow SB in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research