Brokerages expect Scorpio Bulkers (NYSE:SALT) to announce sales of $61.34 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Scorpio Bulkers’ earnings, with the highest sales estimate coming in at $62.90 million and the lowest estimate coming in at $60.05 million. Scorpio Bulkers reported sales of $37.74 million during the same quarter last year, which indicates a positive year over year growth rate of 62.5%. The business is scheduled to announce its next quarterly earnings results on Monday, July 23rd.
According to Zacks, analysts expect that Scorpio Bulkers will report full-year sales of $247.74 million for the current financial year, with estimates ranging from $239.90 million to $267.22 million. For the next financial year, analysts expect that the firm will report sales of $271.07 million per share, with estimates ranging from $247.71 million to $311.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings results on Monday, April 23rd. The shipping company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The firm had revenue of $54.20 million during the quarter, compared to the consensus estimate of $53.57 million. Scorpio Bulkers had a negative net margin of 17.02% and a negative return on equity of 3.32%. The business’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) earnings per share.
A number of analysts have recently commented on SALT shares. Zacks Investment Research upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Thursday, January 25th. ValuEngine lowered Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Stifel Nicolaus upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Monday, April 23rd. Finally, Morgan Stanley cut their price target on Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.15.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Scorpio Bulkers by 1,579.1% during the first quarter. Royal Bank of Canada now owns 71,363 shares of the shipping company’s stock worth $503,000 after acquiring an additional 67,113 shares in the last quarter. Valueworks LLC raised its holdings in Scorpio Bulkers by 441.6% during the first quarter. Valueworks LLC now owns 797,377 shares of the shipping company’s stock worth $5,621,000 after acquiring an additional 650,152 shares in the last quarter. Millennium Management LLC raised its holdings in Scorpio Bulkers by 3.9% during the first quarter. Millennium Management LLC now owns 921,953 shares of the shipping company’s stock worth $6,500,000 after acquiring an additional 34,442 shares in the last quarter. A.R.T. Advisors LLC raised its holdings in Scorpio Bulkers by 99.2% during the first quarter. A.R.T. Advisors LLC now owns 97,648 shares of the shipping company’s stock worth $688,000 after acquiring an additional 48,617 shares in the last quarter. Finally, UBS Group AG raised its holdings in Scorpio Bulkers by 202.5% during the first quarter. UBS Group AG now owns 129,365 shares of the shipping company’s stock worth $912,000 after acquiring an additional 86,593 shares in the last quarter. Institutional investors and hedge funds own 37.01% of the company’s stock.
Shares of Scorpio Bulkers opened at $7.55 on Friday, Marketbeat.com reports. The stock has a market capitalization of $582.42 million, a PE ratio of -13.25 and a beta of 3.12. Scorpio Bulkers has a one year low of $5.70 and a one year high of $8.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.20 and a current ratio of 1.20.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.08 annualized dividend and a yield of 1.06%. Scorpio Bulkers’s payout ratio is presently -14.04%.
Scorpio Bulkers Company Profile
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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