Scorpio Bulkers Inc (SALT) Receives $10.40 Average Price Target from Analysts

Shares of Scorpio Bulkers Inc (NYSE:SALT) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.40.

Several research analysts recently issued reports on SALT shares. Zacks Investment Research raised shares of Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Wednesday, December 27th. ValuEngine cut shares of Scorpio Bulkers from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Jefferies Group started coverage on shares of Scorpio Bulkers in a report on Monday, December 18th. They set a “buy” rating and a $14.00 target price for the company. Noble Financial started coverage on shares of Scorpio Bulkers in a research report on Friday, January 12th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of Scorpio Bulkers from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th.

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Hedge funds have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC grew its position in Scorpio Bulkers by 6.1% during the fourth quarter. Evermore Global Advisors LLC now owns 6,324,477 shares of the shipping company’s stock valued at $46,801,000 after buying an additional 366,181 shares during the period. Royce & Associates LP grew its position in Scorpio Bulkers by 23.0% during the fourth quarter. Royce & Associates LP now owns 1,355,978 shares of the shipping company’s stock valued at $10,034,000 after buying an additional 254,000 shares during the period. Hosking Partners LLP grew its position in Scorpio Bulkers by 7.8% during the fourth quarter. Hosking Partners LLP now owns 986,863 shares of the shipping company’s stock valued at $7,303,000 after buying an additional 71,203 shares during the period. Malaga Cove Capital LLC acquired a new stake in Scorpio Bulkers during the fourth quarter valued at $299,000. Finally, Capital Fund Management S.A. acquired a new stake in Scorpio Bulkers during the fourth quarter valued at $207,000. Institutional investors own 37.04% of the company’s stock.

Shares of Scorpio Bulkers stock traded up $0.15 during trading on Friday, hitting $7.05. 398,390 shares of the company’s stock were exchanged, compared to its average volume of 515,637. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.41 and a quick ratio of 1.35. Scorpio Bulkers has a 52-week low of $5.70 and a 52-week high of $10.14. The stock has a market cap of $543.84, a PE ratio of -12.37 and a beta of 3.18.

Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, February 5th. The shipping company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Scorpio Bulkers had a negative net margin of 36.82% and a negative return on equity of 4.45%. The firm had revenue of $51.13 million during the quarter, compared to analysts’ expectations of $49.34 million. During the same quarter last year, the company posted ($0.29) earnings per share. The firm’s revenue was up 90.4% compared to the same quarter last year. equities analysts expect that Scorpio Bulkers will post 0.12 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 15th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.08 annualized dividend and a yield of 1.13%. Scorpio Bulkers’s dividend payout ratio is presently -7.02%.

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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.

Analyst Recommendations for Scorpio Bulkers (NYSE:SALT)

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