Equities analysts predict that Scorpio Bulkers Inc (NYSE:SALT) will post sales of $57.61 million for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Scorpio Bulkers’ earnings, with the highest sales estimate coming in at $59.61 million and the lowest estimate coming in at $55.80 million. Scorpio Bulkers reported sales of $54.25 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The company is expected to report its next earnings results on Monday, April 22nd.
According to Zacks, analysts expect that Scorpio Bulkers will report full-year sales of $242.67 million for the current year, with estimates ranging from $205.29 million to $279.92 million. For the next fiscal year, analysts forecast that the company will post sales of $287.58 million, with estimates ranging from $246.96 million to $393.53 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings data on Monday, January 28th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.08). The business had revenue of $65.20 million for the quarter, compared to analyst estimates of $70.61 million. Scorpio Bulkers had a negative return on equity of 0.19% and a negative net margin of 5.24%. The business’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.
Several equities analysts have recently issued reports on SALT shares. BTIG Research started coverage on Scorpio Bulkers in a research report on Thursday, November 15th. They set a “buy” rating and a $8.00 price objective for the company. Zacks Investment Research upgraded Scorpio Bulkers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $9.33.
A number of large investors have recently made changes to their positions in the stock. Sippican Capital Advisors raised its holdings in Scorpio Bulkers by 12.7% during the fourth quarter. Sippican Capital Advisors now owns 24,145 shares of the shipping company’s stock worth $134,000 after purchasing an additional 2,721 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Scorpio Bulkers by 0.7% during the third quarter. TIAA CREF Investment Management LLC now owns 692,647 shares of the shipping company’s stock worth $5,022,000 after purchasing an additional 4,475 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Scorpio Bulkers by 6.8% during the third quarter. GSA Capital Partners LLP now owns 144,754 shares of the shipping company’s stock worth $1,049,000 after purchasing an additional 9,254 shares in the last quarter. Vanguard Group Inc. raised its holdings in Scorpio Bulkers by 10.2% during the third quarter. Vanguard Group Inc. now owns 141,235 shares of the shipping company’s stock worth $1,024,000 after purchasing an additional 13,025 shares in the last quarter. Finally, Vanguard Group Inc raised its holdings in Scorpio Bulkers by 10.2% during the third quarter. Vanguard Group Inc now owns 141,235 shares of the shipping company’s stock worth $1,024,000 after purchasing an additional 13,025 shares in the last quarter. 39.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SALT traded up $0.14 during midday trading on Friday, hitting $4.15. 413,138 shares of the company’s stock were exchanged, compared to its average volume of 488,410. The company has a current ratio of 0.55, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The company has a market cap of $285.58 million, a PE ratio of -138.33 and a beta of 2.14. Scorpio Bulkers has a twelve month low of $3.89 and a twelve month high of $8.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, February 14th. This represents a $0.08 annualized dividend and a yield of 1.93%. Scorpio Bulkers’s payout ratio is -266.67%.
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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