$49.19 Million in Sales Expected for Scorpio Bulkers Inc (SALT) This Quarter
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.
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.
COPYRIGHT VIOLATION NOTICE: “$49.19 Million in Sales Expected for Scorpio Bulkers Inc (SALT) This Quarter” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/20/49-19-million-in-sales-expected-for-scorpio-bulkers-inc-salt-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Scorpio Bulkers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Bulkers and related companies with MarketBeat.com's FREE daily email newsletter.