Wall Street analysts expect Scorpio Bulkers Inc (NYSE:SALT) to post earnings of ($0.02) per share for the current quarter, according to Zacks. Six analysts have made estimates for Scorpio Bulkers’ earnings, with estimates ranging from ($0.06) to $0.02. Scorpio Bulkers posted earnings per share of ($0.23) in the same quarter last year, which suggests a positive year-over-year growth rate of 91.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 19th.
According to Zacks, 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 firm will report earnings of $0.41 per share, with EPS estimates ranging from $0.05 to $0.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings data on Monday, February 5th. The shipping company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The business had revenue of $51.13 million during the quarter, compared to analyst estimates of $49.34 million. Scorpio Bulkers had a negative return on equity of 4.45% and a negative net margin of 36.82%. The company’s revenue was up 90.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.29) earnings per share.
Several brokerages have recently weighed in on SALT. Zacks Investment Research lowered Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Jefferies Group began coverage on Scorpio Bulkers in a report on Monday, December 18th. They set a “buy” rating and a $14.00 target price for the company. Noble Financial began coverage on Scorpio Bulkers in a report on Friday, January 12th. They set a “buy” rating and a $10.00 target price for the company. Morgan Stanley reduced their target price on Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Finally, ValuEngine downgraded Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Three research 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’s stock. Scorpio Bulkers presently has a consensus rating of “Hold” and a consensus price target of $10.21.
A number of large investors have recently bought and sold shares of the stock. Evermore Global Advisors LLC raised its position in Scorpio Bulkers by 6.1% during the fourth quarter. Evermore Global Advisors LLC now owns 6,324,477 shares of the shipping company’s stock valued at $46,801,000 after buying an additional 366,181 shares during the period. Raging Capital Management LLC increased its position in Scorpio Bulkers by 9.5% in the 4th quarter. Raging Capital Management LLC now owns 3,538,399 shares of the shipping company’s stock worth $26,184,000 after purchasing an additional 308,139 shares during the last quarter. Royce & Associates LP increased its position in Scorpio Bulkers by 23.0% in the 4th quarter. Royce & Associates LP now owns 1,355,978 shares of the shipping company’s stock worth $10,034,000 after purchasing an additional 254,000 shares during the last quarter. Renaissance Technologies LLC increased its position in Scorpio Bulkers by 59.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,124,292 shares of the shipping company’s stock worth $8,320,000 after purchasing an additional 417,383 shares during the last quarter. Finally, Hourglass Capital LLC increased its position in Scorpio Bulkers by 11.8% in the 4th quarter. Hourglass Capital LLC now owns 1,070,000 shares of the shipping company’s stock worth $7,918,000 after purchasing an additional 113,000 shares during the last quarter. 37.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scorpio Bulkers (SALT) traded down $0.08 during trading on Friday, hitting $7.37. The stock had a trading volume of 456,928 shares, compared to its average volume of 596,277. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.35 and a current ratio of 1.41. The firm has a market capitalization of $574.70, a price-to-earnings ratio of -8.98 and a beta of 3.18. Scorpio Bulkers has a twelve month low of $5.70 and a twelve month high of $10.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, February 14th. Scorpio Bulkers’s payout ratio is -4.82%.
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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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