Safe Bulkers (SB) Gains As Market Dips: What You Should Know

Safe Bulkers (SB) closed the most recent trading day at $2.70, moving +1.5% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.

Coming into today, shares of the shipping company had lost 17.9% in the past month. In that same time, the Transportation sector lost 10.84%, while the S&P 500 lost 6.51%.

Wall Street will be looking for positivity from Safe Bulkers as it approaches its next earnings report date. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.09 million, down 10.91% from the year-ago period.

SB's full-year Zacks Consensus Estimates are calling for earnings of $1.29 per share and revenue of $331.69 million. These results would represent year-over-year changes of +2.38% and +3.89%, respectively.

Any recent changes to analyst estimates for Safe Bulkers should also be noted by investors. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.15% lower. Safe Bulkers currently has a Zacks Rank of #4 (Sell).

Looking at its valuation, Safe Bulkers is holding a Forward P/E ratio of 2.06. Its industry sports an average Forward P/E of 3.21, so we one might conclude that Safe Bulkers is trading at a discount comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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