Scorpio Bulkers Inc (SALT) Forecasted to Post Q3 2018 Earnings of $0.02 Per Share

Scorpio Bulkers Inc (NYSE:SALT) – Research analysts at B. Riley issued their Q3 2018 earnings per share (EPS) estimates for Scorpio Bulkers in a report released on Wednesday, October 3rd. B. Riley analyst L. Burke forecasts that the shipping company will post earnings per share of $0.02 for the quarter. B. Riley currently has a “Buy” rating and a $9.50 price target on the stock. B. Riley also issued estimates for Scorpio Bulkers’ Q4 2018 earnings at $0.07 EPS, FY2018 earnings at $0.02 EPS and FY2019 earnings at $0.38 EPS.

Several other analysts have also recently weighed in on SALT. ValuEngine raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Thursday, July 5th. Noble Financial reaffirmed a “buy” rating and set a $10.00 price objective on shares of Scorpio Bulkers in a research report on Wednesday, July 25th. Jefferies Financial Group set a $12.00 price objective on Scorpio Bulkers and gave the company a “buy” rating in a research report on Tuesday, July 24th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price objective on shares of Scorpio Bulkers in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Scorpio Bulkers presently has an average rating of “Hold” and a consensus price target of $10.00.

Scorpio Bulkers stock opened at $7.23 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. The company has a market cap of $550.71 million, a price-to-earnings ratio of -12.68 and a beta of 3.02. Scorpio Bulkers has a fifty-two week low of $6.31 and a fifty-two week high of $8.85.

Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings data on Monday, July 23rd. The shipping company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The firm had revenue of $60.61 million for the quarter, compared to the consensus estimate of $61.68 million. Scorpio Bulkers had a negative net margin of 8.17% and a negative return on equity of 1.84%. The business’s revenue was up 60.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share.

Several hedge funds have recently added to or reduced their stakes in SALT. Trexquant Investment LP purchased a new position in shares of Scorpio Bulkers during the second quarter valued at approximately $226,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Scorpio Bulkers during the second quarter valued at approximately $300,000. Engineers Gate Manager LP lifted its holdings in shares of Scorpio Bulkers by 121.7% during the second quarter. Engineers Gate Manager LP now owns 43,888 shares of the shipping company’s stock valued at $312,000 after purchasing an additional 24,095 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Scorpio Bulkers during the second quarter valued at approximately $327,000. Finally, Royal Bank of Canada lifted its holdings in shares of Scorpio Bulkers by 1,579.1% during the first quarter. Royal Bank of Canada now owns 71,363 shares of the shipping company’s stock valued at $503,000 after purchasing an additional 67,113 shares during the last quarter. Hedge funds and other institutional investors own 38.59% of the company’s stock.

Scorpio Bulkers Company Profile

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

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