Scorpio Bulkers Inc. (NYSE:SALT) Given Average Recommendation of “Hold” by Brokerages
Shares of Scorpio Bulkers Inc. (NYSE:SALT) have earned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.54.
Several brokerages have recently commented on SALT. Jefferies Group LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Scorpio Bulkers in a 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. BidaskClub downgraded Scorpio Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $10.00 target price on shares of Scorpio Bulkers in a research report on Sunday, April 23rd.
Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Scorpio Bulkers during the fourth quarter valued at $139,000. State Street Corp increased its stake in shares of Scorpio Bulkers by 50.6% in the fourth quarter. State Street Corp now owns 793,782 shares of the shipping company’s stock valued at $4,009,000 after buying an additional 266,870 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Scorpio Bulkers by 135.9% in the fourth quarter. Teachers Advisors LLC now owns 130,762 shares of the shipping company’s stock valued at $660,000 after buying an additional 75,323 shares in the last quarter. Horseman Capital Management Ltd bought a new stake in shares of Scorpio Bulkers during the first quarter valued at $6,440,000. Finally, Geneva Advisors LLC bought a new stake in shares of Scorpio Bulkers during the first quarter valued at $182,000. 48.01% of the stock is currently owned by institutional investors.
Scorpio Bulkers (NYSE:SALT) traded up 1.39% during mid-day trading on Friday, hitting $7.30. The company’s stock had a trading volume of 170,563 shares. The company’s market cap is $524.17 million. The firm’s 50-day moving average is $7.19 and its 200-day moving average is $7.38. Scorpio Bulkers has a 12-month low of $3.03 and a 12-month high of $10.14.
Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings data on Monday, July 24th. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by $0.01. Scorpio Bulkers had a negative net margin of 72.87% and a negative return on equity of 7.52%. The business had revenue of $37.70 million for the quarter, compared to analysts’ expectations of $38.78 million. During the same quarter in the prior year, the company posted ($0.48) EPS. The business’s revenue for the quarter was up 116.7% on a year-over-year basis. Analysts predict that Scorpio Bulkers will post ($0.70) EPS for the current fiscal year.
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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