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Safe Bulkers (SB) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3-min read

Safe Bulkers (SB) closed at $2.70 in the latest trading session, marking a +1.5% move from the prior day. This move lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Heading into today, shares of the shipping company had lost 8.9% over the past month, lagging the Transportation sector's loss of 6.82% and the S&P 500's loss of 4.82% in that time.

Safe Bulkers will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.33, down 17.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $81.09 million, down 10.91% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.29 per share and revenue of $331.69 million, which would represent changes of +2.38% and +3.89%, respectively, from the prior year.

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Any recent changes to analyst estimates for Safe Bulkers should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.37% lower. Safe Bulkers is holding a Zacks Rank of #4 (Sell) right now.

Investors should also note Safe Bulkers's current valuation metrics, including its Forward P/E ratio of 2.06. This represents a discount compared to its industry's average Forward P/E of 3.26.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research