Scorpio Bulkers Inc (NYSE:SALT) has been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.90.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Thursday. Stifel Nicolaus upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Monday, April 23rd. ValuEngine upgraded Scorpio Bulkers from a “strong sell” rating to a “sell” rating in a report on Thursday, May 3rd. Finally, Morgan Stanley reduced their price target on Scorpio Bulkers from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Tuesday, April 17th.
A number of hedge funds have recently modified their holdings of SALT. Dimensional Fund Advisors LP lifted its position 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 worth $11,701,000 after acquiring an additional 693,269 shares during the last quarter. Valueworks LLC lifted its position 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 acquiring an additional 650,152 shares during the last quarter. Millennium Management LLC lifted its position 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 acquiring an additional 512,042 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 acquiring an additional 417,383 shares during the last quarter. Finally, Evermore Global Advisors LLC lifted its position 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 acquiring an additional 336,562 shares during the last quarter. Hedge funds and other institutional investors own 38.23% of the company’s stock.
Shares of NYSE SALT traded up $0.05 during mid-day trading on Monday, hitting $7.30. The company had a trading volume of 431,740 shares, compared to its average volume of 460,422. The stock has a market capitalization of $559.27 million, a price-to-earnings ratio of -12.81 and a beta of 3.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 1.20. Scorpio Bulkers has a one year low of $6.47 and a one year high of $8.85.
Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings data on Monday, April 23rd. The shipping company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ 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 net margin of 17.02% and a negative return on equity of 3.32%. Scorpio Bulkers’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) EPS. sell-side analysts expect that Scorpio Bulkers will post 0.14 EPS for the current year.
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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