Equities research analysts expect Scorpio Bulkers Inc (NYSE:SALT) to report earnings per share (EPS) of $0.04 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Scorpio Bulkers’ earnings, with estimates ranging from $0.00 to $0.08. Scorpio Bulkers reported earnings per share of ($0.15) during the same quarter last year, which indicates a positive year over year growth rate of 126.7%. The company is expected to issue its next earnings report on Monday, October 22nd.

On average, analysts expect that Scorpio Bulkers will report full year earnings of $0.12 per share for the current fiscal year, with EPS estimates ranging from $0.05 to $0.26. For the next financial year, analysts forecast that the firm will report earnings of $0.49 per share, with EPS estimates ranging from $0.25 to $1.07. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Scorpio Bulkers.

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

A number of research firms have weighed in on SALT. ValuEngine upgraded Scorpio Bulkers from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Seaport Global Securities restated a “buy” rating and issued a $13.00 price target on shares of Scorpio Bulkers in a research note on Tuesday, July 31st. Noble Financial restated a “buy” rating and issued a $10.00 price target on shares of Scorpio Bulkers in a research note on Wednesday, July 25th. Zacks Investment Research upgraded Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Thursday, July 5th. Finally, Jefferies Financial Group set a $12.00 price target on Scorpio Bulkers and gave the company a “buy” rating in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Scorpio Bulkers currently has an average rating of “Hold” and an average target price of $10.08.

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Scorpio Bulkers by 71.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,659,693 shares of the shipping company’s stock worth $11,701,000 after buying an additional 693,269 shares during the last quarter. Valueworks LLC grew its holdings in shares of Scorpio Bulkers by 441.6% during the first quarter. Valueworks LLC now owns 797,377 shares of the shipping company’s stock worth $5,621,000 after buying an additional 650,152 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Scorpio Bulkers by 65.9% during the second quarter. Renaissance Technologies LLC now owns 1,494,252 shares of the shipping company’s stock worth $10,609,000 after buying an additional 593,760 shares during the last quarter. Evermore Global Advisors LLC grew its holdings in shares of Scorpio Bulkers by 5.3% during the first quarter. Evermore Global Advisors LLC now owns 6,661,039 shares of the shipping company’s stock worth $46,960,000 after buying an additional 336,562 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Scorpio Bulkers by 24.2% during the second quarter. Millennium Management LLC now owns 1,144,771 shares of the shipping company’s stock worth $8,128,000 after buying an additional 222,818 shares during the last quarter. 38.60% of the stock is currently owned by institutional investors.

Scorpio Bulkers stock traded down $0.10 during midday trading on Friday, reaching $6.65. The company’s stock had a trading volume of 13,403 shares, compared to its average volume of 478,467. Scorpio Bulkers has a fifty-two week low of $6.31 and a fifty-two week high of $8.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $512.73 million, a PE ratio of -11.89 and a beta of 3.04.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, August 14th. Scorpio Bulkers’s payout ratio is -14.04%.

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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