Seaport Global Securities Comments on Scorpio Bulkers Inc’s Q1 2018 Earnings (SALT)

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.

Shares of Scorpio Bulkers (NYSE SALT) opened at $7.25 on Thursday. Scorpio Bulkers has a 1 year low of $5.70 and a 1 year high of $10.14. The firm has a market capitalization of $619.58, a PE ratio of -8.73 and a beta of 3.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.20 and a current ratio of 1.41.

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%.

ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Comments on Scorpio Bulkers Inc’s Q1 2018 Earnings (SALT)” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/08/seaport-global-securities-comments-on-scorpio-bulkers-incs-q1-2018-earnings-salt.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.

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.

Leave a Reply