Brokerages predict that Scorpio Bulkers Inc (NYSE:SALT) will announce $54.81 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Scorpio Bulkers’ earnings, with the lowest sales estimate coming in at $52.90 million and the highest estimate coming in at $57.95 million. Scorpio Bulkers posted sales of $34.73 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 57.8%. The company is scheduled to report its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that Scorpio Bulkers will report full-year sales of $54.81 million for the current fiscal year, with estimates ranging from $190.00 million to $268.74 million. For the next financial year, analysts forecast that the company will post sales of $263.51 million per share, with estimates ranging from $236.69 million to $284.17 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, February 5th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $51.13 million during the quarter, compared to analyst estimates 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 for the quarter was up 90.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) EPS.
SALT has been the subject of several analyst reports. Zacks Investment Research raised shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a research note on Wednesday, December 27th. Jefferies Group initiated coverage on shares of Scorpio Bulkers in a research note on Monday, December 18th. They issued a “buy” rating and a $14.00 price objective for the company. Noble Financial initiated coverage on shares of Scorpio Bulkers in a research note on Friday, January 12th. They issued a “buy” rating and a $10.00 price objective for the company. Morgan Stanley reduced their price objective on shares of Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Finally, BidaskClub lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $10.21.
Shares of Scorpio Bulkers (NYSE:SALT) opened at $8.25 on Friday. The company has a quick ratio of 2.20, a current ratio of 1.41 and a debt-to-equity ratio of 0.73. Scorpio Bulkers has a 52 week low of $5.70 and a 52 week high of $10.14. The stock has a market cap of $636.41, a price-to-earnings ratio of -9.94 and a beta of 3.42.
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 0.97%. Scorpio Bulkers’s dividend payout ratio (DPR) is presently -4.82%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in Scorpio Bulkers in the 4th quarter worth $101,000. Two Sigma Investments LP bought a new position in Scorpio Bulkers in the 4th quarter worth $113,000. Tower Research Capital LLC TRC raised its holdings in Scorpio Bulkers by 185.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,424 shares of the shipping company’s stock worth $121,000 after acquiring an additional 10,664 shares during the period. Voya Investment Management LLC raised its holdings in Scorpio Bulkers by 27.2% in the 2nd quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock worth $182,000 after acquiring an additional 5,493 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Scorpio Bulkers in the 4th quarter worth $207,000. 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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