Scorpio Bulkers Inc (NYSE:SALT) – Research analysts at B. Riley increased their Q2 2020 EPS estimates for shares of Scorpio Bulkers in a research note issued on Tuesday, July 7th. B. Riley analyst L. Burke now anticipates that the shipping company will earn ($4.45) per share for the quarter, up from their previous estimate of ($5.14). B. Riley also issued estimates for Scorpio Bulkers’ Q3 2020 earnings at ($2.59) EPS, Q4 2020 earnings at ($2.16) EPS, FY2020 earnings at ($11.97) EPS and FY2021 earnings at ($1.28) EPS.

Scorpio Bulkers (NYSE:SALT) last posted its earnings results on Monday, May 11th. The shipping company reported ($15.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.10) by ($12.55). The firm had revenue of $40.82 million during the quarter, compared to the consensus estimate of $43.68 million. Scorpio Bulkers had a negative net margin of 35.88% and a positive return on equity of 1.09%.

A number of other analysts have also recently commented on the company. BTIG Research reduced their price target on Scorpio Bulkers from $90.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Zacks Investment Research upgraded Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 16th. Stifel Nicolaus reduced their price target on Scorpio Bulkers from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, June 10th. TheStreet cut Scorpio Bulkers from a “c” rating to a “d” rating in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group cut Scorpio Bulkers from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research report on Wednesday, June 10th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.38.

Shares of SALT opened at $14.12 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.94. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $10.95. The stock has a market cap of $181.35 million, a price-to-earnings ratio of -1.25 and a beta of 1.28. Scorpio Bulkers has a 52 week low of $13.75 and a 52 week high of $77.80.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, June 12th. Scorpio Bulkers’s dividend payout ratio is currently 1.68%.

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new stake in shares of Scorpio Bulkers during the first quarter worth about $27,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Scorpio Bulkers during the fourth quarter worth about $87,000. Citigroup Inc. grew its position in shares of Scorpio Bulkers by 44.0% during the first quarter. Citigroup Inc. now owns 16,537 shares of the shipping company’s stock worth $42,000 after purchasing an additional 5,049 shares in the last quarter. Williams Jones Wealth Management LLC. grew its position in shares of Scorpio Bulkers by 47.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 17,200 shares of the shipping company’s stock worth $110,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Scorpio Bulkers during the first quarter worth about $47,000.

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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