Equities research analysts expect Scorpio Bulkers Inc (NYSE:SALT) to report ($0.02) earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Scorpio Bulkers’ earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.06). Scorpio Bulkers reported earnings per share of ($0.23) during the same quarter last year, which would indicate a positive year over year growth rate of 91.3%. The company is expected to issue its next earnings report on Thursday, April 19th.
On average, analysts expect that Scorpio Bulkers will report full year earnings of $0.12 per share for the current year, with EPS estimates ranging from ($0.36) to $0.40. For the next financial year, analysts expect that the business will post earnings of $0.41 per share, with EPS estimates ranging from $0.05 to $0.61. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last released its earnings results on Monday, February 5th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $51.13 million during the quarter, compared to the consensus estimate of $49.34 million. Scorpio Bulkers had a negative net margin of 36.82% and a negative return on equity of 4.45%. The company’s revenue was up 90.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.29) EPS.
A number of research firms have recently weighed in on SALT. Zacks Investment Research downgraded shares of Scorpio Bulkers from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Stifel Nicolaus restated a “hold” rating and set a $9.00 price target on shares of Scorpio Bulkers in a report on Tuesday, October 24th. Morgan Stanley cut their price target on shares of Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. BidaskClub downgraded shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Finally, Noble Financial began coverage on shares of Scorpio Bulkers in a report on Friday, January 12th. They set a “buy” rating and a $10.00 price target on the stock. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Scorpio Bulkers currently has a consensus rating of “Hold” and an average target price of $10.21.
Scorpio Bulkers (SALT) remained flat at $$8.20 during trading on Wednesday. 821,951 shares of the company’s stock traded hands, compared to its average volume of 641,163. The firm has a market cap of $632.56, a P/E ratio of -9.88 and a beta of 3.42. The company has a current ratio of 1.41, a quick ratio of 2.20 and a debt-to-equity ratio of 0.73. Scorpio Bulkers has a fifty-two week low of $5.70 and a fifty-two week high of $10.14.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.08 annualized dividend and a yield of 0.98%. Scorpio Bulkers’s dividend payout ratio (DPR) is presently -4.82%.
A number of institutional investors and hedge funds have recently made changes to their positions in SALT. Wells Fargo & Company MN raised its holdings in Scorpio Bulkers by 26.6% in the 2nd quarter. Wells Fargo & Company MN now owns 55,957 shares of the shipping company’s stock worth $398,000 after acquiring an additional 11,750 shares during the period. Alliancebernstein L.P. raised its holdings in Scorpio Bulkers by 315.0% in the 2nd quarter. Alliancebernstein L.P. now owns 44,400 shares of the shipping company’s stock worth $315,000 after acquiring an additional 33,700 shares during the period. Teachers Advisors LLC raised its holdings in Scorpio Bulkers by 2.4% in the 2nd quarter. Teachers Advisors LLC now owns 105,567 shares of the shipping company’s stock worth $750,000 after acquiring an additional 2,439 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Scorpio Bulkers by 24.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 154,481 shares of the shipping company’s stock worth $1,097,000 after acquiring an additional 29,886 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in Scorpio Bulkers by 42.9% in the 2nd quarter. Nationwide Fund Advisors now owns 45,197 shares of the shipping company’s stock worth $321,000 after acquiring an additional 13,574 shares during the period. Hedge funds and other institutional investors own 38.54% of the company’s stock.
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Scorpio Bulkers Company Profile
Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.
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