Zacks: Analysts Anticipate Scorpio Bulkers Inc (NYSE:SALT) Will Post Earnings of -$0.05 Per Share

Equities analysts forecast that Scorpio Bulkers Inc (NYSE:SALT) will report earnings per share of ($0.05) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Scorpio Bulkers’ earnings. The highest EPS estimate is $0.00 and the lowest is ($0.09). Scorpio Bulkers reported earnings per share of $0.02 during the same quarter last year, which would suggest a negative year over year growth rate of 350%. The company is expected to issue its next quarterly earnings report on Monday, October 28th.

According to Zacks, analysts expect that Scorpio Bulkers will report full year earnings of ($0.17) per share for the current fiscal year. For the next year, analysts expect that the firm will report earnings of $0.42 per share, with EPS estimates ranging from $0.05 to $0.62. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Scorpio Bulkers.

Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings results on Monday, July 22nd. The shipping company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The company had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $48.00 million. Scorpio Bulkers had a negative return on equity of 0.31% and a net margin of 10.47%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share.

SALT has been the subject of several research analyst reports. BTIG Research lifted their price objective on Scorpio Bulkers to $9.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Zacks Investment Research lowered Scorpio Bulkers from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Noble Financial reissued a “buy” rating and set a $8.50 price objective on shares of Scorpio Bulkers in a research note on Wednesday, July 24th. Finally, ValuEngine lowered Scorpio Bulkers from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.21.

NYSE:SALT traded up $0.12 during trading hours on Friday, hitting $6.07. 254,877 shares of the company’s stock traded hands, compared to its average volume of 417,043. The firm has a market cap of $431.32 million, a P/E ratio of -202.67 and a beta of 2.32. Scorpio Bulkers has a 52 week low of $3.57 and a 52 week high of $7.46. The business’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $4.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.81.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.32%. The ex-dividend date is Wednesday, August 14th. Scorpio Bulkers’s dividend payout ratio is -266.67%.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its holdings in Scorpio Bulkers by 451.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,354 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 9,295 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Scorpio Bulkers in the second quarter worth $44,000. SG Americas Securities LLC bought a new position in Scorpio Bulkers in the first quarter worth $46,000. Bank of Montreal Can lifted its position in Scorpio Bulkers by 96.6% in the second quarter. Bank of Montreal Can now owns 11,909 shares of the shipping company’s stock worth $55,000 after purchasing an additional 5,850 shares during the period. Finally, Moors & Cabot Inc. bought a new position in Scorpio Bulkers in the first quarter worth $56,000. 36.51% of the stock is owned by institutional investors.

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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