Wall Street brokerages forecast that Scorpio Bulkers Inc. (NYSE:SALT) will post earnings per share of ($0.15) for the current quarter, according to Zacks. Four analysts have made estimates for Scorpio Bulkers’ earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.18). Scorpio Bulkers posted earnings per share of ($0.30) in the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The company is scheduled to announce its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Scorpio Bulkers will report full-year earnings of ($0.65) per share for the current fiscal year, with EPS estimates ranging from ($0.86) to ($0.50). For the next financial year, analysts expect that the firm will report earnings of ($0.20) per share, with EPS estimates ranging from ($0.73) to $0.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last released its earnings results on Monday, July 24th. The shipping company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.01. Scorpio Bulkers had a negative return on equity of 7.52% and a negative net margin of 72.87%. The business had revenue of $37.70 million during the quarter, compared to analysts’ expectations of $38.78 million. During the same period last year, the business earned ($0.48) earnings per share. The company’s revenue for the quarter was up 116.7% compared to the same quarter last year.
SALT has been the topic of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $14.00 target price on shares of Scorpio Bulkers in a research report on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $8.00 target price on shares of Scorpio Bulkers in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, BidaskClub raised shares of Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.75.
Hedge funds have recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in Scorpio Bulkers during the second quarter valued at approximately $134,000. GSA Capital Partners LLP bought a new stake in Scorpio Bulkers during the second quarter valued at approximately $138,000. Geneva Advisors LLC bought a new stake in Scorpio Bulkers during the first quarter valued at approximately $182,000. Voya Investment Management LLC boosted its stake in Scorpio Bulkers by 27.2% in the second quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock valued at $182,000 after buying an additional 5,493 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Scorpio Bulkers during the second quarter valued at approximately $245,000. Institutional investors and hedge funds own 50.84% of the company’s stock.
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Scorpio Bulkers (SALT) traded up 8.39% on Friday, reaching $8.40. 1,258,582 shares of the company’s stock were exchanged. Scorpio Bulkers has a 12-month low of $3.25 and a 12-month high of $10.14. The firm has a 50 day moving average of $7.42 and a 200-day moving average of $7.42. The company’s market cap is $603.15 million.
About Scorpio Bulkers
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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