Scorpio Bulkers Inc (NYSE:SALT) has earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.43.
SALT has been the subject of a number of research analyst reports. BTIG Research initiated coverage on Scorpio Bulkers in a research report on Thursday, November 15th. They issued a “buy” rating and a $8.00 target price for the company. Zacks Investment Research cut Scorpio Bulkers from a “hold” rating to a “strong sell” rating in a research report on Friday, January 18th.
A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in Scorpio Bulkers by 18.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,107,065 shares of the shipping company’s stock worth $17,182,000 after acquiring an additional 474,263 shares during the period. BlackRock Inc. increased its stake in Scorpio Bulkers by 3.4% in the 4th quarter. BlackRock Inc. now owns 3,064,573 shares of the shipping company’s stock valued at $16,946,000 after purchasing an additional 101,407 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Scorpio Bulkers by 67.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,780,762 shares of the shipping company’s stock valued at $15,377,000 after purchasing an additional 1,124,146 shares in the last quarter. Royce & Associates LP increased its stake in Scorpio Bulkers by 2.1% in the 4th quarter. Royce & Associates LP now owns 1,309,754 shares of the shipping company’s stock valued at $7,243,000 after purchasing an additional 26,476 shares in the last quarter. Finally, Hosking Partners LLP increased its stake in Scorpio Bulkers by 10.6% in the 4th quarter. Hosking Partners LLP now owns 1,114,997 shares of the shipping company’s stock valued at $6,166,000 after purchasing an additional 107,115 shares in the last quarter. 38.40% of the stock is owned by institutional investors.
Scorpio Bulkers (NYSE:SALT) last announced its earnings results on Monday, January 28th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $70.61 million. Scorpio Bulkers had a negative net margin of 5.24% and a negative return on equity of 0.19%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. Sell-side analysts anticipate that Scorpio Bulkers will post -0.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.88%. Scorpio Bulkers’s payout ratio is -266.67%.
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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