Scorpio Bulkers Inc (SALT) Expected to Post Earnings of $0.13 Per Share
Equities analysts predict that Scorpio Bulkers Inc (NYSE:SALT) will post earnings of $0.13 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Scorpio Bulkers’ earnings. The highest EPS estimate is $0.23 and the lowest is $0.06. Scorpio Bulkers reported earnings of ($0.01) per share in the same quarter last year, which indicates a positive year over year growth rate of 1,400%. The business is expected to announce its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Scorpio Bulkers will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.02 to $0.16. For the next fiscal year, analysts anticipate that the business will post earnings of $0.45 per share, with EPS estimates ranging from $0.25 to $1.07. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings data on Monday, October 22nd. The shipping company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $62.66 million. Scorpio Bulkers had a negative return on equity of 0.49% and a negative net margin of 2.80%. The company’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) earnings per share.
Shares of NYSE SALT traded down $0.20 during mid-day trading on Wednesday, reaching $5.56. 18,724 shares of the company were exchanged, compared to its average volume of 842,817. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $434.29 million, a P/E ratio of -9.95 and a beta of 2.80. Scorpio Bulkers has a 1 year low of $5.41 and a 1 year high of $8.45.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, November 13th. Scorpio Bulkers’s dividend payout ratio is currently -14.04%.
Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in Scorpio Bulkers during the 2nd quarter valued at about $962,000. Trexquant Investment LP acquired a new position in Scorpio Bulkers during the 2nd quarter valued at about $226,000. Royal Bank of Canada increased its position in Scorpio Bulkers by 1,579.1% during the 1st quarter. Royal Bank of Canada now owns 71,363 shares of the shipping company’s stock valued at $503,000 after buying an additional 67,113 shares in the last quarter. Millennium Management LLC increased its position in Scorpio Bulkers by 24.2% during the 2nd quarter. Millennium Management LLC now owns 1,144,771 shares of the shipping company’s stock valued at $8,128,000 after buying an additional 222,818 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Scorpio Bulkers by 71.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,659,693 shares of the shipping company’s stock valued at $11,701,000 after buying an additional 693,269 shares in the last quarter. 38.80% of the stock is currently owned by institutional investors.
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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