Somewhat Positive Media Coverage Somewhat Unlikely to Affect Scorpio Bulkers (SALT) Share Price
Media headlines about Scorpio Bulkers (NYSE:SALT) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Scorpio Bulkers earned a news sentiment score of 0.21 on Accern’s scale. Accern also gave news stories about the shipping company an impact score of 46.0624537710927 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s rankings:
- Scorpio Bulkers Inc. (SALT) Downgraded by BidaskClub (americanbankingnews.com)
- Zacks: Analysts Expect Scorpio Bulkers Inc. (SALT) Will Post Quarterly Sales of $49.37 Million (americanbankingnews.com)
- 2 Shippers With 50% Upside (finance.yahoo.com)
- Scorpio Bulkers, Inc. breached its 50 day moving average in a Bearish Manner : SALT-US : November 9, 2017 (finance.yahoo.com)
- Scorpio Bulkers Inc. Announces Acquisition of Three Ultramax Vessels and One Kamsarmax Vessel – GlobeNewswire (press release) (globenewswire.com)
Several research analysts have weighed in on SALT shares. Stifel Nicolaus reissued a “hold” rating and set a $8.50 price objective on shares of Scorpio Bulkers in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Scorpio Bulkers from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. BidaskClub lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and set a $14.00 price objective on shares of Scorpio Bulkers in a report on Thursday, August 3rd. Finally, ValuEngine lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.50.
Scorpio Bulkers (NYSE SALT) opened at $7.40 on Friday. Scorpio Bulkers has a fifty-two week low of $4.05 and a fifty-two week high of $10.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.20 and a current ratio of 2.20.
Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings results on Monday, October 23rd. The shipping company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). Scorpio Bulkers had a negative net margin of 57.43% and a negative return on equity of 6.51%. The business had revenue of $38.60 million during the quarter, compared to analyst estimates of $40.04 million. During the same period last year, the firm posted ($0.60) earnings per share. The company’s quarterly revenue was up 61.5% on a year-over-year basis. equities research analysts expect that Scorpio Bulkers will post -0.58 EPS for the current fiscal year.
Scorpio Bulkers declared that its board has approved a stock buyback plan on Wednesday, September 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the shipping company to repurchase up to 10.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, November 14th.
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About Scorpio Bulkers
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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