Brokerages expect that Scorpio Bulkers Inc (NYSE:SALT) will report $0.04 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Scorpio Bulkers’ earnings. The lowest EPS estimate is $0.00 and the highest is $0.08. Scorpio Bulkers reported earnings per share of ($0.15) in the same quarter last year, which would suggest a positive year-over-year growth rate of 126.7%. The firm is expected to announce its next earnings report on Monday, October 22nd.
On average, analysts expect that Scorpio Bulkers will report full-year earnings of $0.12 per share for the current fiscal year, with EPS estimates ranging from $0.05 to $0.26. For the next year, analysts forecast that the firm will report earnings of $0.49 per share, with EPS estimates ranging from $0.25 to $1.07. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, July 23rd. The shipping company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Scorpio Bulkers had a negative net margin of 8.17% and a negative return on equity of 1.84%. The firm had revenue of $60.61 million during the quarter, compared to analysts’ expectations of $61.68 million. During the same quarter last year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 60.6% compared to the same quarter last year.
SALT has been the topic of a number of recent research reports. Stifel Nicolaus upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Monday, April 23rd. Seaport Global Securities restated a “buy” rating and issued a $13.00 target price on shares of Scorpio Bulkers in a research note on Tuesday, July 31st. Zacks Investment Research downgraded Scorpio Bulkers from a “hold” rating to a “sell” rating in a research note on Saturday, April 21st. Jefferies Financial Group set a $12.00 target price on Scorpio Bulkers and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, ValuEngine upgraded Scorpio Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.08.
Large investors have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new stake in shares of Scorpio Bulkers in the fourth quarter worth about $113,000. Engineers Gate Manager LP acquired a new stake in shares of Scorpio Bulkers in the first quarter worth about $140,000. Trexquant Investment LP acquired a new stake in shares of Scorpio Bulkers in the second quarter worth about $226,000. Acorn Advisory Capital L.P. acquired a new stake in shares of Scorpio Bulkers in the first quarter worth about $259,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Scorpio Bulkers in the second quarter worth about $300,000. 38.69% of the stock is owned by institutional investors.
NYSE SALT remained flat at $$6.75 on Monday. The company’s stock had a trading volume of 185,824 shares, compared to its average volume of 492,769. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.71. Scorpio Bulkers has a 1 year low of $6.50 and a 1 year high of $8.85. The stock has a market capitalization of $516.53 million, a P/E ratio of -11.84 and a beta of 3.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be given a $0.02 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.19%. Scorpio Bulkers’s dividend payout ratio is currently -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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