Equities research analysts expect that Scorpio Bulkers Inc. (NYSE:SALT) will report earnings of ($0.15) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scorpio Bulkers’ earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.07). Scorpio Bulkers reported earnings of ($0.48) per share during the same quarter last year, which would indicate a positive year over year growth rate of 68.8%. The business is expected to report its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that Scorpio Bulkers will report full year earnings of ($0.63) per share for the current fiscal year, with EPS estimates ranging from ($0.97) to ($0.37). For the next year, analysts anticipate that the business will report earnings of ($0.18) per share, with EPS estimates ranging from ($0.73) to $0.57. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings results on Thursday, April 20th. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. The company had revenue of $34.73 million during the quarter, compared to the consensus estimate of $33.92 million. Scorpio Bulkers had a negative net margin of 98.31% and a negative return on equity of 8.63%. The business’s revenue was up 239.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.12) earnings per share.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $10.00 price target on shares of Scorpio Bulkers in a research note on Sunday, April 23rd. Finally, Morgan Stanley began coverage on shares of Scorpio Bulkers in a research note on Tuesday, March 28th. They issued an “equal weight” rating and a $10.50 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Scorpio Bulkers currently has an average rating of “Buy” and a consensus price target of $8.61.
Shares of Scorpio Bulkers (SALT) traded down 2.11% during mid-day trading on Thursday, reaching $6.95. 956,988 shares of the company’s stock were exchanged. Scorpio Bulkers has a 1-year low of $2.63 and a 1-year high of $10.14. The stock’s market capitalization is $498.56 million. The company’s 50 day moving average is $6.35 and its 200 day moving average is $7.00.
Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Scorpio Bulkers during the fourth quarter valued at about $139,000. Geneva Advisors LLC purchased a new stake in Scorpio Bulkers during the first quarter valued at about $182,000. American International Group Inc. boosted its stake in Scorpio Bulkers by 53.8% in the first quarter. American International Group Inc. now owns 33,776 shares of the shipping company’s stock valued at $311,000 after buying an additional 11,819 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Scorpio Bulkers by 291.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 52,309 shares of the shipping company’s stock valued at $481,000 after buying an additional 38,952 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Scorpio Bulkers during the first quarter valued at about $522,000. 47.91% of the stock is currently owned by hedge funds and other institutional investors.
Scorpio Bulkers Company Profile
Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.
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