Equities research analysts expect that Scorpio Bulkers Inc (NYSE:SALT) will announce $0.04 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scorpio Bulkers’ earnings. The highest EPS estimate is $0.08 and the lowest is ($0.03). Scorpio Bulkers posted earnings of $0.02 per share during the same quarter last year, which indicates a positive year over year growth rate of 100%. The business is expected to report its next quarterly earnings results on Monday, January 27th.
According to Zacks, analysts expect that Scorpio Bulkers will report full year earnings of ($0.28) per share for the current financial year, with EPS estimates ranging from ($0.34) to ($0.18). For the next year, analysts anticipate that the firm will post earnings of $0.38 per share, with EPS estimates ranging from ($0.17) to $0.71. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last posted its earnings results on Wednesday, October 23rd. The shipping company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $63.20 million for the quarter, compared to the consensus estimate of $60.63 million. Scorpio Bulkers had a negative return on equity of 0.74% and a net margin of 9.74%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mraz Amerine & Associates Inc. raised its holdings in Scorpio Bulkers by 26.0% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 46,800 shares of the shipping company’s stock valued at $215,000 after acquiring an additional 9,650 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Scorpio Bulkers by 111.0% in the second quarter. JPMorgan Chase & Co. now owns 476,284 shares of the shipping company’s stock valued at $2,143,000 after purchasing an additional 250,583 shares in the last quarter. Bank of Montreal Can grew its position in shares of Scorpio Bulkers by 96.6% in the second quarter. Bank of Montreal Can now owns 11,909 shares of the shipping company’s stock valued at $55,000 after purchasing an additional 5,850 shares in the last quarter. Hourglass Capital LLC increased its holdings in shares of Scorpio Bulkers by 12.5% in the second quarter. Hourglass Capital LLC now owns 875,000 shares of the shipping company’s stock valued at $4,025,000 after purchasing an additional 97,500 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Scorpio Bulkers by 12.0% in the second quarter. Renaissance Technologies LLC now owns 1,527,192 shares of the shipping company’s stock valued at $7,025,000 after purchasing an additional 164,083 shares during the last quarter. 34.92% of the stock is currently owned by institutional investors.
Shares of SALT stock traded up $0.16 on Friday, hitting $5.95. The stock had a trading volume of 240,607 shares, compared to its average volume of 297,355. The business has a 50 day moving average price of $6.31 and a 200 day moving average price of $5.80. Scorpio Bulkers has a one year low of $3.57 and a one year high of $7.78. The company has a market cap of $419.70 million, a PE ratio of -198.33 and a beta of 2.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 1.34%. Scorpio Bulkers’s payout ratio 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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