ValuEngine cut shares of Scorpio Bulkers Inc. (NYSE:SALT) from a hold rating to a sell rating in a research note published on Thursday morning.
A number of other equities analysts also recently issued reports on SALT. Zacks Investment Research downgraded Scorpio Bulkers from a buy rating to a hold rating in a research report on Tuesday, May 30th. Stifel Nicolaus reiterated a hold rating and set a $8.50 price target on shares of Scorpio Bulkers in a research report on Wednesday, July 19th. BidaskClub downgraded Scorpio Bulkers from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC reiterated a buy rating and set a $14.00 price target on shares of Scorpio Bulkers in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.75.
Scorpio Bulkers (NYSE:SALT) traded up 2.63% on Thursday, hitting $7.80. The stock had a trading volume of 680,527 shares. Scorpio Bulkers has a 12 month low of $3.25 and a 12 month high of $10.14. The company’s 50 day moving average is $7.62 and its 200-day moving average is $7.46. The stock’s market cap is $560.07 million.
Scorpio Bulkers (NYSE:SALT) last issued its earnings results on Monday, July 24th. The shipping company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.01. Scorpio Bulkers had a negative return on equity of 7.52% and a negative net margin of 72.87%. The company had revenue of $37.70 million during the quarter, compared to analysts’ expectations of $38.78 million. During the same quarter in the previous year, the company earned ($0.48) EPS. The firm’s quarterly revenue was up 116.7% compared to the same quarter last year. Analysts forecast that Scorpio Bulkers will post ($0.70) EPS for the current year.
TRADEMARK VIOLATION WARNING: “Scorpio Bulkers Inc. (SALT) Cut to Sell at ValuEngine” was first published by Markets Daily and is the property of of Markets Daily. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.themarketsdaily.com/2017/09/10/scorpio-bulkers-inc-salt-cut-to-sell-at-valuengine.html.
Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of Scorpio Bulkers by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 198,177 shares of the shipping company’s stock valued at $1,408,000 after purchasing an additional 508 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Scorpio Bulkers by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 46,004 shares of the shipping company’s stock valued at $326,000 after purchasing an additional 1,291 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Scorpio Bulkers by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,836 shares of the shipping company’s stock valued at $872,000 after purchasing an additional 2,242 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Scorpio Bulkers by 2.4% in the second quarter. Teachers Advisors LLC now owns 105,567 shares of the shipping company’s stock valued at $750,000 after purchasing an additional 2,439 shares during the last quarter. Finally, Phoenix Investment Adviser LLC increased its holdings in shares of Scorpio Bulkers by 2.2% in the second quarter. Phoenix Investment Adviser LLC now owns 139,500 shares of the shipping company’s stock valued at $990,000 after purchasing an additional 3,000 shares during the last quarter. 43.98% of the stock is owned by hedge funds and other institutional investors.
Scorpio Bulkers Company Profile
Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Scorpio Bulkers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Bulkers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.