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Here's Why Safe Bulkers (SB) Fell More Than Broader Market
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Safe Bulkers (SB - Free Report) closed at $4.71 in the latest trading session, marking a -1.88% move from the prior day. This move lagged the S&P 500's daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
The the stock of shipping company has fallen by 2.64% in the past month, lagging the Transportation sector's gain of 6.82% and the S&P 500's gain of 1.6%.
Investors will be eagerly watching for the performance of Safe Bulkers in its upcoming earnings disclosure.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.87 per share and a revenue of $292.78 million, signifying shifts of +58.18% and +11.44%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Safe Bulkers. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Safe Bulkers holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Safe Bulkers is currently trading at a Forward P/E ratio of 5.52. This expresses a discount compared to the average Forward P/E of 7.76 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Safe Bulkers (SB) Fell More Than Broader Market
Safe Bulkers (SB - Free Report) closed at $4.71 in the latest trading session, marking a -1.88% move from the prior day. This move lagged the S&P 500's daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
The the stock of shipping company has fallen by 2.64% in the past month, lagging the Transportation sector's gain of 6.82% and the S&P 500's gain of 1.6%.
Investors will be eagerly watching for the performance of Safe Bulkers in its upcoming earnings disclosure.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.87 per share and a revenue of $292.78 million, signifying shifts of +58.18% and +11.44%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Safe Bulkers. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Safe Bulkers holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Safe Bulkers is currently trading at a Forward P/E ratio of 5.52. This expresses a discount compared to the average Forward P/E of 7.76 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.