Safe Bulkers (NYSE:SB) are living up to their name for investors today, rising 12% through 1:05 p.m. EDT after the company set an earnings date for its fiscal first-quarter 2021 financial results.
As management advised, Safe Bulkers will release its numbers after close of trading next week, on Wednesday, May 5.
Image source: Getty Images.
So what
So why the enthusiastic response to a rather ho-hum announcement of an earnings date? Well, consider what Safe Bulkers might
report on that date.
Heading into the Q1 report, analysts are already optimistic that Safe Bulkers will reverse its year-ago loss and return a $0.10 per-share profit on sales growth of 27% -- $57.9 million in revenue. Lending confidence to these predictions, the Baltic Exchange Dry Index (BDI) has been on a winning streak ever since the start of this year. The BDI tracks rates shippers like Safe Bulkers can get for hauling dry bulk goods (e.g., coal, iron pellets, and grain) across the ocean. From a starting point near 1,400 at the beginning of 2021, the BDI has more than doubled, passing the 3,000 mark just yesterday.
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