Scorpio Bulkers (SALT) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Scorpio Bulkers (NASDAQ:SALT) announced its earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.02, American Banking News reports. The company had revenue of $13.18 million for the quarter, compared to the consensus estimate of $13.13 million.
Shares of Scorpio Bulkers (NASDAQ:SALT) traded down 0.71% during mid-day trading on Wednesday, hitting $8.0726. 72,810 shares of the company’s stock traded hands. Scorpio Bulkers has a 52-week low of $8.07 and a 52-week high of $10.73. The stock’s 50-day moving average is $8.8 and its 200-day moving average is $9.29. The company’s market cap is $1.071 billion.
A number of analysts have recently weighed in on SALT shares. Analysts at Evercore Partners cut their price target on shares of Scorpio Bulkers from $13.00 to $11.00 in a research note on Wednesday, July 23rd. Analysts at MLV & Co
initiated coverage on shares of Scorpio Bulkers in a research note on Wednesday, May 28th. They set a “buy” rating and a $11.00 price target on the stock. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $13.00.
Scorpio Bulkers Inc is a company engaged in marine transportation, based in the Marshall Islands. It is a provider of transportation services of dry bulk commodities.
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