Scorpio Bulkers (SALT) Cut to Sell at Zacks Investment Research

Angelo Anderson
April 25, 2018

The consensus mean EPS for the current quarter is at $-0.03 derived from a total of 11 estimates from the analysts who have weighed in on projected earnings. Scorpio Bulkers Inc (NYSE:SALT)'s price to earnings ratio stood at 0. The company has an average rating of Hold and an average target price of $10.15. They issued a "buy" rating and a $10.00 price target for the company. For the next fiscal year, analysts expect that the firm will post earnings of $0.41 per share, with EPS estimates ranging from $0.05 to $0.61. Jefferies initiated the stock with "Buy" rating in Monday, December 18 report.

Scorpio Bulkers Inc (NYSE:SALT) shares traded 8.33% up during most recent session to reach at the closing price of $7.8. Scorpio Bulkers Inc. (SALT) negotiated the trading capacity of 1332850 shares and observing the average volume of last three months the stock traded 538.36K shares. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock tapped a 52-week high of US$19.85 while the mean 12-month price target for the shares is US$19.25. The shipping company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of ($0.01). To cut down amount of noise on price chart, shares of firm has 20 days moving average price of 10.64% from last close price of 7.80 and act as support or resistance of price limit. Scorpio Bulkers based in MONACO. Scorpio Bulkers had 4 analyst reports since December 18, 2017 according to SRatingsIntel. The firm has a market cap of $555.42, a price-to-earnings ratio of -13.68 and a beta of 3.13. Scorpio Bulkers had a negative net margin of 36.82% and a negative return on equity of 4.45%. However the low revenue estimates for the company are $48 Million versus high revenue estimates of $58 Million. During the same quarter a year ago, the company posted ($0.29) earnings per share.

Institutional investors have recently made changes to their positions in the business.

Additionally on 4/17/18 Morgan Stanley "Maintained" Scorpio Bulkers Inc (NYSE:SALT) to Equal-Weight setting price target at $8.5 and on 2/12/18 Morgan Stanley "Maintained" the stock to Equal-Weight at $9.

Currently Scorpio Bulkers Inc (NYSE:SALT)'s shares owned by insiders are 33.7%, whereas shares owned by institutional owners are 40%. Vanguard Group Inc. now owns 122,836 shares of the shipping company's stock valued at $872,000 after buying an additional 2,242 shares during the period. Millennium Management LLC raised its holdings in shares of Scorpio Bulkers by 136.4% in the fourth quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Scorpio Bulkers during the third quarter worth approximately $1,708,000. Finally, ValuEngine cut Scorpio Bulkers from a "sell" rating to a "strong sell" rating in a research report on Thursday, March 1st.

The stock dispatched -7.69% performance during the quarter and performance arrived at 0.65% over the last six months.

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The Company's vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes.

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