Analysts forecast that Scorpio Bulkers Inc (NYSE:SALT) will report earnings per share of $0.04 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Scorpio Bulkers’ earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.08. Scorpio Bulkers posted earnings of $0.02 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 100%. The firm is scheduled to report its next earnings report on Monday, January 27th.
According to Zacks, analysts expect that Scorpio Bulkers will report full year earnings of ($0.28) per share for the current fiscal year, with EPS estimates ranging from ($0.34) to ($0.18). For the next financial year, analysts expect that the business will report earnings of $0.38 per share, with EPS estimates ranging from ($0.17) to $0.71. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last released its earnings results on Wednesday, October 23rd. The shipping company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $63.20 million for the quarter, compared to the consensus estimate of $60.63 million. Scorpio Bulkers had a net margin of 9.74% and a negative return on equity of 0.74%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share.
A number of research firms have recently weighed in on SALT. Noble Financial set a $8.50 target price on shares of Scorpio Bulkers and gave the stock a “buy” rating in a report on Tuesday, September 24th. ValuEngine raised shares of Scorpio Bulkers from a “sell” rating to a “hold” rating in a report on Monday, November 25th. B. Riley reiterated a “buy” rating on shares of Scorpio Bulkers in a research report on Tuesday, October 15th. Pareto Securities cut Scorpio Bulkers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Zacks Investment Research upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $8.38.
NYSE SALT traded up $0.16 during trading on Friday, hitting $5.95. 240,607 shares of the stock traded hands, compared to its average volume of 297,355. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. Scorpio Bulkers has a 12-month low of $3.57 and a 12-month high of $7.78. The firm has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $5.80. The company has a market capitalization of $419.70 million, a P/E ratio of -198.33 and a beta of 2.33.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.34%. Scorpio Bulkers’s dividend payout ratio (DPR) is presently -266.67%.
A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Scorpio Bulkers during the second quarter valued at approximately $44,000. Bank of Montreal Can boosted its stake in Scorpio Bulkers by 96.6% in the second quarter. Bank of Montreal Can now owns 11,909 shares of the shipping company’s stock valued at $55,000 after acquiring an additional 5,850 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Scorpio Bulkers in the second quarter valued at approximately $60,000. Tower Research Capital LLC TRC grew its holdings in Scorpio Bulkers by 1,402.6% in the second quarter. Tower Research Capital LLC TRC now owns 16,529 shares of the shipping company’s stock worth $76,000 after purchasing an additional 15,429 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Scorpio Bulkers in the second quarter worth $124,000. 34.92% of the stock is currently owned by institutional investors.
About Scorpio Bulkers
Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.
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