Equities research analysts expect Scorpio Bulkers Inc (NYSE:SALT) to post $49.89 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Scorpio Bulkers’ earnings, with the highest sales estimate coming in at $56.90 million and the lowest estimate coming in at $46.35 million. Scorpio Bulkers reported sales of $60.52 million during the same quarter last year, which indicates a negative year over year growth rate of 17.6%. The company is scheduled to report its next earnings results on Monday, July 22nd.
On average, analysts expect that Scorpio Bulkers will report full-year sales of $218.40 million for the current year, with estimates ranging from $193.21 million to $240.50 million. For the next financial year, analysts forecast that the business will report sales of $275.03 million, with estimates ranging from $251.94 million to $301.19 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings results on Monday, April 29th. The shipping company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.24. Scorpio Bulkers had a negative net margin of 4.36% and a positive return on equity of 0.92%. The firm had revenue of $50.40 million for the quarter, compared to analyst estimates of $49.25 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was down 7.2% on a year-over-year basis.
SALT traded up $0.19 during trading on Friday, reaching $4.43. The company had a trading volume of 287,190 shares, compared to its average volume of 429,115. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.43 and a current ratio of 0.43. Scorpio Bulkers has a 12 month low of $3.57 and a 12 month high of $7.60. The firm has a market cap of $336.16 million, a P/E ratio of -147.67 and a beta of 2.33.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.02 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.81%. Scorpio Bulkers’s dividend payout ratio (DPR) is presently -266.67%.
Several hedge funds and other institutional investors have recently bought and sold shares of SALT. Bank of New York Mellon Corp raised its holdings in shares of Scorpio Bulkers by 67.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,780,762 shares of the shipping company’s stock valued at $15,377,000 after purchasing an additional 1,124,146 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 474,263 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Scorpio Bulkers by 1,418.3% during the first quarter. JPMorgan Chase & Co. now owns 225,701 shares of the shipping company’s stock worth $867,000 after buying an additional 210,836 shares during the last quarter. Hosking Partners LLP increased its holdings in Scorpio Bulkers by 10.6% during the fourth quarter. Hosking Partners LLP now owns 1,114,997 shares of the shipping company’s stock worth $6,166,000 after buying an additional 107,115 shares during the last quarter. Finally, GeoSphere Capital Management LLC acquired a new position in Scorpio Bulkers during the fourth quarter worth $573,000. Institutional investors own 36.47% of the company’s stock.
Scorpio Bulkers Company Profile
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.
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