Equities research analysts expect that Scorpio Bulkers Inc (NYSE:SALT) will report sales of $49.57 million for the current quarter, Zacks reports. Five analysts have provided estimates for Scorpio Bulkers’ earnings, with estimates ranging from $47.22 million to $52.01 million. Scorpio Bulkers reported sales of $26.82 million in the same quarter last year, which indicates a positive year over year growth rate of 84.8%. The business is expected to announce its next earnings results on Monday, February 5th.

On average, analysts expect that Scorpio Bulkers will report full year sales of $49.57 million for the current year, with estimates ranging from $158.09 million to $166.84 million. For the next financial year, analysts forecast that the firm will report sales of $221.83 million per share, with estimates ranging from $173.00 million to $273.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Scorpio Bulkers.

Scorpio Bulkers (NYSE:SALT) last released its quarterly earnings data on Monday, October 23rd. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $38.60 million for the quarter, compared to analyst estimates of $40.04 million. Scorpio Bulkers had a negative net margin of 57.43% and a negative return on equity of 6.51%. The firm’s revenue for the quarter was up 61.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.60) earnings per share.

A number of equities research analysts have weighed in on SALT shares. Zacks Investment Research raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a report on Wednesday, December 27th. Jefferies Group started coverage on Scorpio Bulkers in a report on Monday, December 18th. They set a “buy” rating and a $14.00 price objective on the stock. BidaskClub raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $9.00 price objective on shares of Scorpio Bulkers in a report on Tuesday, October 24th. Finally, ValuEngine downgraded Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.88.

Scorpio Bulkers (SALT) traded up $0.15 during midday trading on Thursday, reaching $7.75. The company’s stock had a trading volume of 422,100 shares, compared to its average volume of 401,550. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $658.04, a P/E ratio of -7.05 and a beta of 3.56. Scorpio Bulkers has a 12 month low of $5.40 and a 12 month high of $10.14.

The firm also recently announced a special dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were issued a $0.02 dividend. The ex-dividend date was Tuesday, November 14th. Scorpio Bulkers’s payout ratio is currently -1.82%.

Scorpio Bulkers declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 13th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the shipping company to repurchase up to 10.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. Quantitative Investment Management LLC bought a new position in Scorpio Bulkers in the 2nd quarter worth approximately $1,250,000. Northern Trust Corp raised its position in Scorpio Bulkers by 5.5% in the 2nd quarter. Northern Trust Corp now owns 532,847 shares of the shipping company’s stock worth $3,783,000 after purchasing an additional 27,871 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Scorpio Bulkers by 24.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 154,481 shares of the shipping company’s stock worth $1,097,000 after purchasing an additional 29,886 shares during the last quarter. Royce & Associates LP raised its position in Scorpio Bulkers by 13.9% in the 3rd quarter. Royce & Associates LP now owns 1,101,978 shares of the shipping company’s stock worth $7,769,000 after purchasing an additional 134,105 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Scorpio Bulkers by 59.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 83,471 shares of the shipping company’s stock valued at $592,000 after acquiring an additional 31,162 shares during the last quarter. Hedge funds and other institutional investors own 40.31% of the company’s stock.

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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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