Does Safe Bulkers Inc. (SB) offer a good opportunity for investors?

With 0.9 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.01 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $2.9400 whereas the lowest price it dropped to was $2.8800. The 52-week range on SB shows that it touched its highest point at $5.12 and its lowest point at $2.35 during that stretch. It currently has a 1-year price target of $5.11. With its current market cap of 352.93 million, SB has annualized dividend of $0.20 while the current yield stands at 6.90%. Beta for the stock currently stands at 0.93.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SB was down-trending over the past week, with a drop of -3.97%, but this was up by 5.45% over a month. Three-month performance dropped to -15.94% while six-month performance fell -38.56%. The stock lost -16.43% in the past year, while it has lost -23.08% so far this year. A look at the trailing 12-month EPS for SB yields 1.59 with Next year EPS estimates of 1.03. For the next quarter, that number is 0.26. This implies an EPS growth rate of 683.10% for this year and -20.82% for next year. EPS is expected to grow by 14.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 30.20%.

Float and Shares Shorts:

At present, 120.43 million SB shares are outstanding with a float of 70.49 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.7 million, which was 2.24% higher than short shares on Sep 14, 2022. In addition to Mr. Polys Hajioannou as the firm’s Chairman & CEO, Dr. Loukas Barmparis serves as its Pres, Sec. & Director.

Institutional Ownership:

Through their ownership of 28.16% of SB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 16.13% of SB, in contrast to 10.38% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in SB with 3.38% of the stake, Acadian Asset Management LLC holds 4,077,171 shares worth 4,077,171. A second-largest stockholder of SB, Renaissance Technologies LLC, holds 3,872,486 shares, controlling over 3.21% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SB, holding 3,312,025 shares or 2.75% stake. With a 1.35% stake in SB, the iShares Russell 2000 ETF is the largest stakeholder. A total of 1,624,743 shares are owned by the mutual fund manager. The Goldman Sachs Small Cap Value Ins, which owns about 0.76% of SB stock, is the second-largest Mutual Fund holder. It holds 922,381 shares valued at 2.33 million. iShares Russell 2000 Value ETF holds 0.64% of the stake in SB, owning 776,541 shares worth 1.96 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SB since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SB analysts setting a high price target of $7.00 and a low target of $2.85, the average target price over the next 12 months is $5.11. Based on these targets, SB could surge 141.38% to reach the target high and fall by -1.72% to reach the target low. Reaching the average price target will result in a growth of 76.21% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SB will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $1.37 being high and $1.17 being low. For SB, this leads to a yearly average estimate of $1.27. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Safe Bulkers Inc. surprised analysts by $0.09 when it reported $0.39 EPS against a consensus estimate of $0.30. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is $0.32 and the low estimate is $0.19. The average estimate for the next quarter is thus $0.26.

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