Analysts expect that Scorpio Bulkers Inc (NYSE:SALT) will report $61.34 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Scorpio Bulkers’ earnings, with the highest sales estimate coming in at $62.90 million and the lowest estimate coming in at $60.05 million. Scorpio Bulkers reported sales of $37.74 million in the same quarter last year, which indicates a positive year over year growth rate of 62.5%. The company is scheduled to announce its next earnings report on Monday, July 23rd.
On average, analysts expect that Scorpio Bulkers will report full-year sales of $247.74 million for the current financial year, with estimates ranging from $239.90 million to $267.22 million. For the next year, analysts expect that the firm will post sales of $271.07 million per share, with estimates ranging from $247.71 million to $311.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings results on Monday, April 23rd. The shipping company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). The company had revenue of $54.20 million during the quarter, compared to the consensus estimate of $53.57 million. Scorpio Bulkers had a negative return on equity of 3.32% and a negative net margin of 17.02%. Scorpio Bulkers’s revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share.
Several equities research analysts recently issued reports on the company. ValuEngine raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Stifel Nicolaus raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Monday, April 23rd. Zacks Investment Research lowered Scorpio Bulkers from a “hold” rating to a “sell” rating in a research note on Saturday, April 21st. Finally, Morgan Stanley dropped their price objective on Scorpio Bulkers from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.15.
A number of large investors have recently bought and sold shares of SALT. Dimensional Fund Advisors LP boosted its stake in Scorpio Bulkers by 71.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,659,693 shares of the shipping company’s stock valued at $11,701,000 after buying an additional 693,269 shares during the period. Valueworks LLC lifted its stake in Scorpio Bulkers by 441.6% during the first quarter. Valueworks LLC now owns 797,377 shares of the shipping company’s stock worth $5,621,000 after purchasing an additional 650,152 shares during the last quarter. Millennium Management LLC lifted its stake in Scorpio Bulkers by 136.4% during the fourth quarter. Millennium Management LLC now owns 887,511 shares of the shipping company’s stock worth $6,568,000 after purchasing an additional 512,042 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Scorpio Bulkers by 59.0% during the fourth 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, Evermore Global Advisors LLC lifted its stake in Scorpio Bulkers by 5.3% during the first quarter. Evermore Global Advisors LLC now owns 6,661,039 shares of the shipping company’s stock worth $46,960,000 after purchasing an additional 336,562 shares during the last quarter. 38.23% of the stock is owned by institutional investors.
NYSE:SALT opened at $7.35 on Friday. The firm has a market cap of $570.84 million, a P/E ratio of -12.72 and a beta of 3.10. Scorpio Bulkers has a 52-week low of $6.47 and a 52-week high of $8.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 1.20.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Tuesday, May 15th were paid 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 was Monday, May 14th. Scorpio Bulkers’s dividend payout ratio is -14.04%.
About Scorpio Bulkers
Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes. As of December 31, 2017, the company owned or finance leased 55 vessels comprising 18 Kamsarmax vessels and 37 Ultramax vessels.
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