Brokerages Anticipate Scorpio Bulkers Inc (NYSE:SALT) to Announce $0.04 Earnings Per Share

Analysts forecast that Scorpio Bulkers Inc (NYSE:SALT) will announce earnings per share (EPS) of $0.04 for the current quarter, according to Zacks. Four analysts have issued estimates for Scorpio Bulkers’ earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.08. Scorpio Bulkers reported earnings of $0.02 per share during the same quarter last year, which would indicate a positive year over year growth rate of 100%. The business is expected to announce its next quarterly earnings results on Monday, January 27th.

According to Zacks, analysts expect that Scorpio Bulkers will report full year earnings of ($0.28) per share for the current financial year, with EPS estimates ranging from ($0.34) to ($0.18). For the next financial year, analysts expect that the company will report earnings of $0.38 per share, with EPS estimates ranging from ($0.17) to $0.71. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Scorpio Bulkers.

Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings results on Wednesday, October 23rd. The shipping company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The firm had revenue of $63.20 million for the quarter, compared to analyst estimates of $60.63 million. Scorpio Bulkers had a negative return on equity of 0.74% and a net margin of 9.74%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS.

Several research firms have weighed in on SALT. Pareto Securities lowered Scorpio Bulkers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. ValuEngine raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Sunday. B. Riley boosted their price target on Scorpio Bulkers from $8.00 to $9.50 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Noble Financial set a $8.50 price target on Scorpio Bulkers and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Zacks Investment Research raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $8.75.

Shares of NYSE:SALT traded down $0.09 during trading on Friday, hitting $5.53. 324,894 shares of the company were exchanged, compared to its average volume of 410,306. The stock has a market cap of $403.76 million, a price-to-earnings ratio of -184.33 and a beta of 2.26. Scorpio Bulkers has a fifty-two week low of $3.57 and a fifty-two week high of $7.78. The firm has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $5.73. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, November 14th. Scorpio Bulkers’s payout ratio is presently -266.67%.

Several hedge funds have recently bought and sold shares of SALT. JPMorgan Chase & Co. increased its holdings in shares of Scorpio Bulkers by 111.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 476,284 shares of the shipping company’s stock worth $2,143,000 after acquiring an additional 250,583 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Scorpio Bulkers during the 3rd quarter worth approximately $1,003,000. Renaissance Technologies LLC increased its holdings in shares of Scorpio Bulkers by 12.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,527,192 shares of the shipping company’s stock worth $7,025,000 after acquiring an additional 164,083 shares during the last quarter. Hourglass Capital LLC increased its holdings in shares of Scorpio Bulkers by 12.5% during the 2nd quarter. Hourglass Capital LLC now owns 875,000 shares of the shipping company’s stock worth $4,025,000 after acquiring an additional 97,500 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Scorpio Bulkers during the 2nd quarter worth approximately $152,000. 34.62% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Bulkers Company Profile

Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.

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Earnings History and Estimates for Scorpio Bulkers (NYSE:SALT)

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