Wall Street brokerages expect Scorpio Bulkers Inc (NYSE:SALT) to announce earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Scorpio Bulkers’ earnings, with estimates ranging from $0.06 to $0.23. Scorpio Bulkers reported earnings per share of ($0.01) during the same quarter last year, which would suggest a positive year-over-year growth rate of 1,400%. The business is scheduled to issue its next earnings report on Monday, February 4th.
On average, analysts expect that Scorpio Bulkers will report full year earnings of $0.08 per share for the current year, with EPS estimates ranging from $0.02 to $0.16. For the next year, analysts anticipate that the company will report earnings of $0.47 per share, with EPS estimates ranging from $0.28 to $1.07. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings data on Monday, October 22nd. The shipping company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Scorpio Bulkers had a negative net margin of 2.80% and a negative return on equity of 0.49%. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.66 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 61.7% compared to the same quarter last year.
A number of analysts have weighed in on SALT shares. B. Riley began coverage on shares of Scorpio Bulkers in a report on Thursday, October 4th. They issued a “buy” rating and a $9.50 target price on the stock. Jefferies Financial Group cut their target price on shares of Scorpio Bulkers from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Noble Financial reaffirmed a “buy” rating on shares of Scorpio Bulkers in a report on Thursday, October 18th. BTIG Research began coverage on shares of Scorpio Bulkers in a report on Thursday, November 15th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, JPMorgan Chase & Co. cut shares of Scorpio Bulkers from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $9.33.
Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in Scorpio Bulkers in the 2nd quarter valued at about $962,000. Millennium Management LLC raised its stake in Scorpio Bulkers by 24.2% in the 2nd quarter. Millennium Management LLC now owns 1,144,771 shares of the shipping company’s stock valued at $8,128,000 after purchasing an additional 222,818 shares during the last quarter. Trexquant Investment LP acquired a new position in Scorpio Bulkers in the 2nd quarter valued at about $226,000. Northern Trust Corp raised its stake in Scorpio Bulkers by 2.7% in the 2nd quarter. Northern Trust Corp now owns 535,776 shares of the shipping company’s stock valued at $3,804,000 after purchasing an additional 13,846 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Scorpio Bulkers by 4.7% in the 2nd quarter. BlackRock Inc. now owns 2,950,065 shares of the shipping company’s stock valued at $20,944,000 after purchasing an additional 131,593 shares during the last quarter. 36.33% of the stock is owned by hedge funds and other institutional investors.
SALT stock opened at $6.12 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.07. Scorpio Bulkers has a twelve month low of $5.25 and a twelve month high of $8.45. The company has a market cap of $468.22 million, a price-to-earnings ratio of -10.74 and a beta of 2.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be given a $0.02 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.08 annualized dividend and a dividend yield of 1.31%. Scorpio Bulkers’s dividend payout ratio is presently -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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