Safe Bulkers, Inc.’s (SB) Fourth-Quarter Review

Analysts at Dahlman Rose & Co. have released an update on Safe Bulkers, Inc. (NYSE: SB). The company has reported resulted for the fourth-quarter.

Safe Bulkers reported EPS of $0.45 for the quarter, which excludes a derivatives loss and other small non-recurring items. The EPS came in ahead of analysts’ estimate of $0.41.

The company has continued its active development of fleet by acquiring two additional Post-Panamax new builds for delivery in 2010 and 2012. Analysts estimate the cost of acquiring the additional fleet at $40-$42 million each.

According to analysts, the company is in a solid shape financially. Analysts at Dahlman Rose & Co. continue to rate Safe Bulkers, Inc. as a Buy, with a price target of $10.