ValuEngine Downgrades Scorpio Bulkers (SALT) to Strong Sell
ValuEngine lowered shares of Scorpio Bulkers (NYSE:SALT) from a sell rating to a strong sell rating in a research note released on Thursday morning.
SALT has been the subject of several other reports. Zacks Investment Research downgraded shares of Scorpio Bulkers from a hold rating to a sell rating in a report on Wednesday, February 14th. Jefferies Group began coverage on shares of Scorpio Bulkers in a report on Monday, December 18th. They set a buy rating and a $14.00 price target for the company. Noble Financial began coverage on shares of Scorpio Bulkers in a report on Friday, January 12th. They set a buy rating and a $10.00 price target for the company. BidaskClub downgraded shares of Scorpio Bulkers from a hold rating to a sell rating in a report on Saturday, November 11th. Finally, Morgan Stanley lowered their price target on shares of Scorpio Bulkers from $10.50 to $9.00 and set an equal weight rating for the company in a report on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Scorpio Bulkers currently has an average rating of Hold and an average price target of $10.21.
Scorpio Bulkers (NYSE SALT) opened at $8.05 on Thursday. The stock has a market cap of $620.99, a price-to-earnings ratio of -9.70 and a beta of 3.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.20 and a current ratio of 1.41. Scorpio Bulkers has a 1-year low of $5.70 and a 1-year high of $10.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.99%. Scorpio Bulkers’s dividend payout ratio is -4.82%.
Several institutional investors have recently modified their holdings of SALT. Fox Run Management L.L.C. bought a new stake in shares of Scorpio Bulkers in the fourth quarter worth $101,000. Two Sigma Investments LP bought a new stake in shares of Scorpio Bulkers in the fourth quarter worth $113,000. Tower Research Capital LLC TRC grew its stake in shares of Scorpio Bulkers by 185.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,424 shares of the shipping company’s stock worth $121,000 after purchasing an additional 10,664 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Scorpio Bulkers by 27.2% in the second quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock worth $182,000 after purchasing an additional 5,493 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Scorpio Bulkers in the fourth quarter worth $207,000. 38.54% of the stock is currently owned by institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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