Scorpio Bulkers (SALT) Receives Consensus Rating of “Hold” from Brokerages

Scorpio Bulkers (NYSE:SALT) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.38.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Thursday, January 25th. ValuEngine lowered shares of Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Morgan Stanley reduced their target price on shares of Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Finally, Stifel Nicolaus upgraded shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Monday, April 23rd.

Large investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in shares of Scorpio Bulkers during the 4th quarter valued at $101,000. Two Sigma Investments LP acquired a new position in shares of Scorpio Bulkers during the 4th quarter valued at $113,000. Tower Research Capital LLC TRC lifted its holdings in shares of Scorpio Bulkers by 185.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,424 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 10,664 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Scorpio Bulkers during the 1st quarter valued at $140,000. Finally, Capital Fund Management S.A. acquired a new position in shares of Scorpio Bulkers during the 4th quarter valued at $207,000. Institutional investors and hedge funds own 37.00% of the company’s stock.

Shares of Scorpio Bulkers traded up $0.05, reaching $7.75, during mid-day trading on Friday, according to MarketBeat.com. The company had a trading volume of 279,835 shares, compared to its average volume of 444,724. The firm has a market cap of $597.84 million, a PE ratio of -13.60 and a beta of 3.12. Scorpio Bulkers has a fifty-two week low of $7.67 and a fifty-two week high of $7.75. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.73.

Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings results on Monday, April 23rd. The shipping company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). The company had revenue of $54.20 million during the quarter, compared to analyst estimates of $53.57 million. Scorpio Bulkers had a negative net margin of 17.02% and a negative return on equity of 3.32%. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) EPS. equities research analysts anticipate that Scorpio Bulkers will post 0.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.08 annualized dividend and a dividend yield of 1.03%. Scorpio Bulkers’s payout ratio is -7.02%.

About Scorpio Bulkers

Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes. As of December 31, 2017, the company owned or finance leased 55 vessels comprising 18 Kamsarmax vessels and 37 Ultramax vessels.

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