Scorpio Bulkers Inc Forecasted to Post Q2 2018 Earnings of $0.05 Per Share (SALT)

Scorpio Bulkers Inc (NYSE:SALT) – Investment analysts at Jefferies Group issued their Q2 2018 earnings per share estimates for shares of Scorpio Bulkers in a research report issued on Friday. Jefferies Group analyst R. Giveans expects that the shipping company will earn $0.05 per share for the quarter. Jefferies Group has a “Buy” rating and a $14.00 price target on the stock. Jefferies Group also issued estimates for Scorpio Bulkers’ Q3 2018 earnings at $0.15 EPS and Q4 2018 earnings at $0.24 EPS.

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

Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Wednesday, December 27th. Noble Financial started coverage on Scorpio Bulkers in a research note on Friday, January 12th. They set a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus restated a “hold” rating and set a $9.00 price target on shares of Scorpio Bulkers in a research note on Tuesday, October 24th. Finally, BidaskClub upgraded Scorpio Bulkers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Three research 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’s stock. The stock has an average rating of “Hold” and an average target price of $10.46.

Scorpio Bulkers (NYSE:SALT) opened at $8.30 on Monday. The stock has a market capitalization of $709.31, a P/E ratio of -7.55 and a beta of 3.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.20 and a current ratio of 2.20. Scorpio Bulkers has a 12 month low of $5.70 and a 12 month high of $10.14.

Large investors have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC grew its stake in shares of Scorpio Bulkers by 6.1% in the 4th quarter. Evermore Global Advisors LLC now owns 6,324,477 shares of the shipping company’s stock valued at $46,801,000 after purchasing an additional 366,181 shares during the last quarter. Horseman Capital Management Ltd grew its stake in shares of Scorpio Bulkers by 35.7% in the 3rd quarter. Horseman Capital Management Ltd now owns 950,000 shares of the shipping company’s stock valued at $6,698,000 after purchasing an additional 250,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Scorpio Bulkers in the 3rd quarter valued at approximately $1,708,000. Citadel Advisors LLC grew its stake in shares of Scorpio Bulkers by 234.4% in the 2nd quarter. Citadel Advisors LLC now owns 304,153 shares of the shipping company’s stock valued at $2,159,000 after purchasing an additional 213,186 shares during the last quarter. Finally, Williams Jones & Associates LLC grew its stake in shares of Scorpio Bulkers by 64.4% in the 2nd quarter. Williams Jones & Associates LLC now owns 464,935 shares of the shipping company’s stock valued at $3,301,000 after purchasing an additional 182,140 shares during the last quarter. Hedge funds and other institutional investors own 40.33% 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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