The 10-second takeaway
For the quarter ended March 31 (Q1), Safe Bulkers beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. GAAP earnings per share dropped significantly.
Margins contracted across the board.
Safe Bulkers tallied revenue of $44.2 million. The three analysts polled by S&P Capital IQ expected net sales of $40.6 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The six earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. GAAP EPS of $0.21 for Q1 were 30% lower than the prior-year quarter's $0.30 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 68.5%, much worse than the prior-year quarter. Operating margin was 42.5%, much worse than the prior-year quarter. Net margin was 36.3%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $41.0 million. On the bottom line, the average EPS estimate is $0.22.
Next year's average estimate for revenue is $156.6 million. The average EPS estimate is $0.63.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 252 members out of 269 rating the stock outperform, and 17 members rating it underperform. Among 62 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 59 give Safe Bulkers a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Safe Bulkers is outperform, with an average price target of $4.83.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Safe Bulkers. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Safe Bulkers to My Watchlist.