Scorpio Bulkers (SALT) – Research Analysts’ Weekly Ratings Changes

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Several brokerages have updated their recommendations and price targets on shares of Scorpio Bulkers (NYSE: SALT) in the last few weeks:

  • 10/12/2018 – Scorpio Bulkers was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/12/2018 – Scorpio Bulkers had its “buy” rating reaffirmed by analysts at Noble Financial.
  • 10/4/2018 – Scorpio Bulkers is now covered by analysts at B. Riley. They set a “buy” rating and a $9.50 price target on the stock.
  • 10/2/2018 – Scorpio Bulkers was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

NYSE:SALT opened at $6.34 on Monday. Scorpio Bulkers Inc has a 52 week low of $6.31 and a 52 week high of $8.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $550.71 million, a PE ratio of -11.12 and a beta of 3.02.

Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings results on Monday, July 23rd. The shipping company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $61.68 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 60.6% compared to the same quarter last year. As a group, equities analysts predict that Scorpio Bulkers Inc will post 0.12 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Scorpio Bulkers by 4.7% in the second quarter. BlackRock Inc. now owns 2,950,065 shares of the shipping company’s stock worth $20,944,000 after purchasing an additional 131,593 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Scorpio Bulkers by 33.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,210,420 shares of the shipping company’s stock worth $15,694,000 after purchasing an additional 550,727 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Scorpio Bulkers by 65.9% in the second quarter. Renaissance Technologies LLC now owns 1,494,252 shares of the shipping company’s stock worth $10,609,000 after purchasing an additional 593,760 shares during the last quarter. Millennium Management LLC boosted its holdings in Scorpio Bulkers by 24.2% in the second quarter. Millennium Management LLC now owns 1,144,771 shares of the shipping company’s stock worth $8,128,000 after purchasing an additional 222,818 shares during the last quarter. Finally, Valueworks LLC boosted its holdings in Scorpio Bulkers by 441.6% in 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. Institutional investors own 38.59% of the company’s stock.

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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