Scorpio Bulkers Inc (NYSE:SALT) – Analysts at Seaport Global Securities issued their Q1 2018 earnings per share estimates for shares of Scorpio Bulkers in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr anticipates that the shipping company will post earnings per share of ($0.01) for the quarter. Seaport Global Securities also issued estimates for Scorpio Bulkers’ Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.12) EPS and FY2018 earnings at ($0.36) EPS.
A number of other research firms also recently weighed in on SALT. Zacks Investment Research downgraded Scorpio Bulkers from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. BidaskClub downgraded Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Noble Financial began coverage on Scorpio Bulkers in a report on Friday, January 12th. They set a “buy” rating and a $10.00 price objective on the stock. 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, Jefferies Group began 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. 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 stock. The company has a consensus rating of “Hold” and an average target price of $10.46.
Scorpio Bulkers (NYSE:SALT) last released its earnings results on Monday, February 5th. The shipping company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Scorpio Bulkers had a negative return on equity of 4.45% and a negative net margin of 36.82%. The business had revenue of $51.13 million for the quarter, compared to the consensus estimate of $49.34 million. During the same period last year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 90.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. bought a new position in shares of Scorpio Bulkers in the fourth quarter valued at approximately $101,000. GSA Capital Partners LLP bought a new position in shares of Scorpio Bulkers in the second quarter valued at approximately $138,000. Voya Investment Management LLC raised its stake in shares of Scorpio Bulkers by 27.2% in the second 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 during the last quarter. Malaga Cove Capital LLC bought a new position in shares of Scorpio Bulkers in the fourth quarter valued at approximately $299,000. Finally, Alliancebernstein L.P. raised its stake in shares of Scorpio Bulkers by 315.0% in the second 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 during the last quarter. 40.97% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, February 14th. Scorpio Bulkers’s payout ratio is -2.41%.
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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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