Shares of Scorpio Bulkers Inc (NYSE:SALT) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.70.
A number of equities analysts recently issued reports on the stock. BTIG Research boosted their target price on shares of Scorpio Bulkers to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. B. Riley set a $8.00 target price on shares of Scorpio Bulkers and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Zacks Investment Research lowered shares of Scorpio Bulkers from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine lowered shares of Scorpio Bulkers from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Finally, Noble Financial reaffirmed a “buy” rating and set a $8.50 target price on shares of Scorpio Bulkers in a research report on Wednesday, July 24th.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in Scorpio Bulkers by 451.4% during the first quarter. BNP Paribas Arbitrage SA now owns 11,354 shares of the shipping company’s stock worth $44,000 after buying an additional 9,295 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Scorpio Bulkers in the 1st quarter valued at $46,000. Moors & Cabot Inc. acquired a new stake in shares of Scorpio Bulkers in the 1st quarter valued at $56,000. Sippican Capital Advisors boosted its stake in shares of Scorpio Bulkers by 14.4% in the 1st quarter. Sippican Capital Advisors now owns 27,630 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. acquired a new stake in shares of Scorpio Bulkers in the 1st quarter valued at $143,000. Hedge funds and other institutional investors own 36.20% of the company’s stock.
Scorpio Bulkers (NYSE:SALT) last announced its earnings results on Monday, July 22nd. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. Scorpio Bulkers had a net margin of 10.47% and a negative return on equity of 0.31%. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $48.00 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Scorpio Bulkers’s revenue was down 19.0% compared to the same quarter last year. On average, equities analysts expect that Scorpio Bulkers will post 0.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, August 14th. Scorpio Bulkers’s dividend payout ratio (DPR) is currently -266.67%.
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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