Scorpio Bulkers Given Average Rating of “Buy” by Brokerages (NASDAQ:SALT)
Scorpio Bulkers (NASDAQ:SALT) has been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the stock, AnalystRatings.NET reports. Seven equities research analysts have rated the stock with a buy rating, The average twelve-month target price among brokerages that have covered the stock in the last year is $13.00.
A number of analysts have recently weighed in on SALT shares. Analysts at Jefferies Group initiated coverage on shares of Scorpio Bulkers in a research note on Wednesday. They set a “buy” rating and a $13.00 price target on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Scorpio Bulkers in a research note on Thursday, July 31st. They now have a $12.00 price target on the stock, down previously from $13.00. Finally, 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.
Shares of Scorpio Bulkers (NASDAQ:SALT) traded up 1.76% during mid-day trading on Wednesday, hitting $8.10. The stock had a trading volume of 198,636 shares. Scorpio Bulkers has a one year low of $7.56 and a one year high of $10.73. The stock has a 50-day moving average of $8.08 and a 200-day moving average of $8.94. The company’s market cap is $1.079 billion.
Scorpio Bulkers (NASDAQ:SALT) last released its earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.09) by $0.02. The company had revenue of $13.18 million for the quarter, compared to the consensus estimate of $13.13 million. Analysts expect that Scorpio Bulkers will post $-0.34 EPS for the current fiscal year.
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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