Brokerages expect Scorpio Bulkers Inc (NYSE:SALT) to post $49.19 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Scorpio Bulkers’ earnings. The highest sales estimate is $52.01 million and the lowest is $47.22 million. Scorpio Bulkers posted sales of $26.82 million in the same quarter last year, which suggests a positive year over year growth rate of 83.4%. The firm is scheduled to report its next earnings results on Monday, February 5th.

According to Zacks, analysts expect that Scorpio Bulkers will report full year sales of $49.19 million for the current year, with estimates ranging from $158.09 million to $166.84 million. For the next year, analysts anticipate that the business will report sales of $230.76 million per share, with estimates ranging from $173.00 million to $273.54 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Scorpio Bulkers.

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

Several research analysts have issued reports on SALT shares. Zacks Investment Research upgraded shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Wednesday, December 27th. Noble Financial started coverage on shares of Scorpio Bulkers in a report on Friday, January 12th. They set a “buy” rating and a $10.00 price target for the company. Jefferies Group started coverage on shares of Scorpio Bulkers in a report on Monday, December 18th. They set a “buy” rating and a $14.00 price target for the company. BidaskClub lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Finally, Stifel Nicolaus restated a “hold” rating and set a $9.00 price target on shares of Scorpio Bulkers in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.29.

Scorpio Bulkers (NYSE:SALT) opened at $8.10 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.54. Scorpio Bulkers has a fifty-two week low of $5.70 and a fifty-two week high of $10.14. The stock has a market cap of $692.22, a P/E ratio of -7.36 and a beta of 3.56.

Large investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of Scorpio Bulkers in the 4th quarter valued at $101,000. GSA Capital Partners LLP bought a new stake in shares of Scorpio Bulkers in the 2nd quarter valued at $138,000. Voya Investment Management LLC increased its stake in shares of Scorpio Bulkers by 27.2% in the 2nd quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock valued at $182,000 after acquiring an additional 5,493 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Scorpio Bulkers by 315.0% in the 2nd quarter. Alliancebernstein L.P. now owns 44,400 shares of the shipping company’s stock valued at $315,000 after acquiring an additional 33,700 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Scorpio Bulkers by 42.9% in the 2nd quarter. Nationwide Fund Advisors now owns 45,197 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 13,574 shares in the last quarter. Institutional investors own 40.31% of the company’s stock.

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Scorpio Bulkers Company Profile

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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