Other equities research analysts also recently issued research reports about the company. Seaport Global Securities reaffirmed a buy rating and issued a $5.00 price objective on shares of Scorpio Bulkers in a research report on Tuesday, August 2nd. Jefferies Group reissued a buy rating and set a $5.00 price target on shares of Scorpio Bulkers in a research report on Wednesday, July 6th. Clarkson Capital raised Scorpio Bulkers from a neutral rating to a buy rating in a research report on Friday, June 17th. Finally, Zacks Investment Research raised Scorpio Bulkers from a hold rating to a buy rating and set a $3.25 price target for the company in a research report on Thursday, June 23rd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $5.29.
Shares of Scorpio Bulkers (NYSE:SALT) opened at 3.59 on Tuesday. Scorpio Bulkers has a 12 month low of $1.79 and a 12 month high of $19.80. The company’s 50 day moving average price is $3.48 and its 200 day moving average price is $3.44. The stock’s market capitalization is $184.18 million.
Scorpio Bulkers (NYSE:SALT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.05. The business earned $17.37 million during the quarter, compared to the consensus estimate of $16.45 million. Scorpio Bulkers had a negative return on equity of 9.43% and a negative net margin of 621.88%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Equities analysts anticipate that Scorpio Bulkers will post ($1.83) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Scorpio Bulkers by 67.1% in the first quarter. Geode Capital Management LLC now owns 45,274 shares of the company’s stock worth $148,000 after buying an additional 18,172 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Scorpio Bulkers by 18.4% in the second quarter. Rhumbline Advisers now owns 46,489 shares of the company’s stock worth $130,000 after buying an additional 7,241 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Scorpio Bulkers during the second quarter worth approximately $133,000. Valueworks LLC bought a new position in shares of Scorpio Bulkers during the second quarter worth approximately $142,000. Finally, Nationwide Fund Advisors boosted its position in shares of Scorpio Bulkers by 20.2% in the second quarter. Nationwide Fund Advisors now owns 53,829 shares of the company’s stock worth $150,000 after buying an additional 9,043 shares in the last quarter. Institutional investors own 37.13% of the company’s stock.
Scorpio Bulkers Company Profile
Scorpio Bulkers Inc is a shipping company. The Company offers marine transportation services for a range of bulk commodities, including ores, coal, grains and fertilizers using its vessels. The Company focuses to acquire and operate the drybulk carriers. The Company operates through three segments: Capesize, Kamsarmax and Ultramax.
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.