Scorpio Bulkers Inc (SALT) Expected to Announce Quarterly Sales of $60.04 Million

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Wall Street analysts expect that Scorpio Bulkers Inc (NYSE:SALT) will announce sales of $60.04 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Scorpio Bulkers’ earnings. The lowest sales estimate is $56.18 million and the highest is $68.78 million. Scorpio Bulkers reported sales of $54.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The business is scheduled to report its next earnings report on Monday, April 22nd.

On average, analysts expect that Scorpio Bulkers will report full year sales of $252.78 million for the current fiscal year, with estimates ranging from $227.06 million to $279.92 million. For the next financial year, analysts forecast that the firm will report sales of $308.22 million, with estimates ranging from $255.70 million to $393.53 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Scorpio Bulkers.

Scorpio Bulkers (NYSE:SALT) last released its quarterly earnings data on Monday, January 28th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $65.20 million for the quarter, compared to the consensus estimate of $70.61 million. Scorpio Bulkers had a negative net margin of 5.24% and a negative return on equity of 0.19%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS.

Several brokerages recently weighed in on SALT. B. Riley began coverage on shares of Scorpio Bulkers in a research report on Thursday, October 4th. They issued a “buy” rating and a $9.50 price target on the stock. JPMorgan Chase & Co. cut shares of Scorpio Bulkers from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Wednesday, October 17th. Jefferies Financial Group reduced their price target on shares of Scorpio Bulkers from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. ValuEngine cut shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Finally, Noble Financial restated a “buy” rating on shares of Scorpio Bulkers in a research report on Friday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Scorpio Bulkers presently has a consensus rating of “Buy” and an average target price of $9.33.

SALT traded down $0.13 during trading hours on Thursday, hitting $4.52. The company’s stock had a trading volume of 643,300 shares, compared to its average volume of 345,086. Scorpio Bulkers has a 12 month low of $4.46 and a 12 month high of $8.45. The stock has a market capitalization of $381.01 million, a PE ratio of -150.67 and a beta of 2.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 0.55.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, February 14th. Scorpio Bulkers’s dividend payout ratio is presently -266.67%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sippican Capital Advisors boosted its stake in Scorpio Bulkers by 12.7% during the fourth quarter. Sippican Capital Advisors now owns 24,145 shares of the shipping company’s stock worth $134,000 after buying an additional 2,721 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Scorpio Bulkers by 0.7% during the third quarter. TIAA CREF Investment Management LLC now owns 692,647 shares of the shipping company’s stock worth $5,022,000 after buying an additional 4,475 shares during the period. GSA Capital Partners LLP boosted its stake in Scorpio Bulkers by 6.8% during the third quarter. GSA Capital Partners LLP now owns 144,754 shares of the shipping company’s stock worth $1,049,000 after buying an additional 9,254 shares during the period. Vanguard Group Inc. boosted its stake in Scorpio Bulkers by 10.2% during the third quarter. Vanguard Group Inc. now owns 141,235 shares of the shipping company’s stock worth $1,024,000 after buying an additional 13,025 shares during the period. Finally, Vanguard Group Inc boosted its stake in Scorpio Bulkers by 10.2% during the third quarter. Vanguard Group Inc now owns 141,235 shares of the shipping company’s stock worth $1,024,000 after buying an additional 13,025 shares during the period. Institutional investors own 36.17% of the company’s stock.

About Scorpio Bulkers

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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