News stories about Scorpio Bulkers (NYSE:SALT) have been trending somewhat positive on Wednesday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Scorpio Bulkers earned a daily sentiment score of 0.01 on Accern’s scale. Accern also assigned media coverage about the shipping company an impact score of 41.939410030366 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Scorpio Bulkers (NYSE SALT) traded up $0.05 during mid-day trading on Wednesday, reaching $7.70. 931,300 shares of the company’s stock traded hands, compared to its average volume of 841,880. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.54. Scorpio Bulkers has a 12 month low of $4.50 and a 12 month high of $10.14.
Scorpio Bulkers (NYSE:SALT) last posted its earnings results on Monday, October 23rd. The shipping company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $40.04 million. Scorpio Bulkers had a negative return on equity of 6.51% and a negative net margin of 57.43%. The business’s revenue was up 61.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.60) earnings per share. equities research analysts predict that Scorpio Bulkers will post -0.58 EPS for the current fiscal year.
Scorpio Bulkers announced that its board has approved a stock buyback program on Wednesday, September 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the shipping company to purchase up to 10.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several research firms have weighed in on SALT. BidaskClub upgraded shares of Scorpio Bulkers from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $9.00 price objective on shares of Scorpio Bulkers in a research note on Tuesday, October 24th. ValuEngine lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Finally, Zacks Investment Research lowered shares of Scorpio Bulkers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $9.50.
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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