Scorpio Bulkers (NYSE:SALT) posted its quarterly earnings results on Monday. The shipping company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03, Morningstar.com reports. Scorpio Bulkers had a negative net margin of 4.36% and a positive return on equity of 0.92%. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $48.00 million. During the same quarter last year, the firm posted $0.01 earnings per share. Scorpio Bulkers’s revenue was down 19.0% on a year-over-year basis.
SALT stock traded down $0.44 during mid-day trading on Tuesday, hitting $6.25. 17,661 shares of the company were exchanged, compared to its average volume of 486,768. The firm has a market cap of $443.68 million, a P/E ratio of -207.17 and a beta of 2.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.43 and a quick ratio of 0.43. Scorpio Bulkers has a twelve month low of $3.57 and a twelve month high of $7.55. The stock’s fifty day moving average is $5.02.
A number of equities research analysts recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. BTIG Research raised their price target on shares of Scorpio Bulkers to $9.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Noble Financial set a $9.00 price target on shares of Scorpio Bulkers and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.96.
About Scorpio Bulkers
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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