Scorpio Bulkers Inc (NYSE:SALT)’s share price was down 6.2% on Monday . The stock traded as low as $4.54 and last traded at $4.67. Approximately 593,868 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 442,621 shares. The stock had previously closed at $4.98.

Several research firms have weighed in on SALT. Noble Financial set a $9.00 price target on Scorpio Bulkers and gave the stock a “buy” rating in a research report on Friday, April 12th. B. Riley set a $8.00 price target on Scorpio Bulkers and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised Scorpio Bulkers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, ValuEngine raised Scorpio Bulkers from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $9.14.

The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $332.58 million, a price-to-earnings ratio of -163.67 and a beta of 2.33.

Scorpio Bulkers (NYSE:SALT) last released its quarterly earnings results on Monday, April 29th. The shipping company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.24. The company had revenue of $50.40 million during the quarter, compared to the consensus estimate of $49.25 million. Scorpio Bulkers had a positive return on equity of 0.92% and a negative net margin of 4.36%. Scorpio Bulkers’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. On average, analysts anticipate that Scorpio Bulkers Inc will post -0.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, May 14th. Scorpio Bulkers’s payout ratio is -266.67%.

Hedge funds have recently bought and sold shares of the company. Cutler Group LP boosted its holdings in shares of Scorpio Bulkers by 170.5% during the fourth quarter. Cutler Group LP now owns 9,884 shares of the shipping company’s stock worth $54,000 after purchasing an additional 23,900 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Scorpio Bulkers by 0.4% during the third quarter. BlackRock Inc. now owns 2,963,166 shares of the shipping company’s stock worth $21,483,000 after purchasing an additional 13,101 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Scorpio Bulkers by 18.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,107,065 shares of the shipping company’s stock worth $17,182,000 after purchasing an additional 474,263 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Scorpio Bulkers by 33.6% during the third quarter. Bank of New York Mellon Corp now owns 1,656,616 shares of the shipping company’s stock worth $12,009,000 after purchasing an additional 416,178 shares during the last quarter. Finally, Sippican Capital Advisors boosted its holdings in shares of Scorpio Bulkers by 14.4% during the first quarter. Sippican Capital Advisors now owns 27,630 shares of the shipping company’s stock worth $106,000 after purchasing an additional 3,485 shares during the last quarter. Institutional investors and hedge funds own 38.44% of the company’s stock.

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Scorpio Bulkers Company Profile (NYSE:SALT)

Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers worldwide. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers. The company owns and operates 55 vessels, including 54 wholly-owned or finance leased drybulk vessels comprising 17 Kamsarmax vessels and 37 Ultramax vessels; and 1 time chartered-in Ultramax vessel.

Further Reading: Certificate of Deposit (CD)

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