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.
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.
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%.
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.
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