Advertisement
UK markets close in 5 hours 45 minutes
  • FTSE 100

    7,958.09
    +26.11 (+0.33%)
     
  • FTSE 250

    19,812.40
    +1.74 (+0.01%)
     
  • AIM

    742.52
    +0.41 (+0.06%)
     
  • GBP/EUR

    1.1690
    +0.0021 (+0.18%)
     
  • GBP/USD

    1.2616
    -0.0022 (-0.17%)
     
  • Bitcoin GBP

    55,904.52
    +367.20 (+0.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    82.09
    +0.74 (+0.91%)
     
  • GOLD FUTURES

    2,228.10
    +15.40 (+0.70%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,499.65
    +22.56 (+0.12%)
     
  • CAC 40

    8,249.59
    +44.78 (+0.55%)
     

Safe Bulkers (SB) Stock Moves -0.78%: What You Should Know

Safe Bulkers (SB) closed the most recent trading day at $2.53, moving -0.78% from the previous trading session. This change was narrower than the S&P 500's 1.06% loss on the day. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.08%.

Coming into today, shares of the shipping company had lost 5.9% in the past month. In that same time, the Transportation sector gained 5.64%, while the S&P 500 gained 4.94%.

Investors will be hoping for strength from Safe Bulkers as it approaches its next earnings release, which is expected to be November 9, 2022. In that report, analysts expect Safe Bulkers to post earnings of $0.33 per share. This would mark a year-over-year decline of 17.5%. Our most recent consensus estimate is calling for quarterly revenue of $80.49 million, down 11.57% from the year-ago period.

SB's full-year Zacks Consensus Estimates are calling for earnings of $1.26 per share and revenue of $327.74 million. These results would represent year-over-year changes of 0% and +2.65%, respectively.

ADVERTISEMENT

It is also important to note the recent changes to analyst estimates for Safe Bulkers. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.71% lower. Safe Bulkers is currently a Zacks Rank #4 (Sell).

Investors should also note Safe Bulkers's current valuation metrics, including its Forward P/E ratio of 2.03. For comparison, its industry has an average Forward P/E of 3.37, which means Safe Bulkers is trading at a discount to the group.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Safe Bulkers, Inc (SB) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research