FY2018 EPS Estimates for Scorpio Bulkers Inc Lowered by Jefferies Financial Group (SALT)

Scorpio Bulkers Inc (NYSE:SALT) – Investment analysts at Jefferies Financial Group dropped their FY2018 earnings estimates for shares of Scorpio Bulkers in a research note issued to investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now anticipates that the shipping company will post earnings per share of $0.09 for the year, down from their previous forecast of $0.14. Jefferies Financial Group currently has a “Buy” rating and a $10.00 price target on the stock. Jefferies Financial Group also issued estimates for Scorpio Bulkers’ Q4 2018 earnings at $0.13 EPS.

Scorpio Bulkers (NYSE:SALT) last released its quarterly earnings data on Monday, October 22nd. The shipping company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.66 million. Scorpio Bulkers had a negative return on equity of 0.49% and a negative net margin of 2.80%. The business’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share.



Other equities analysts also recently issued reports about the company. ValuEngine upgraded Scorpio Bulkers from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research downgraded Scorpio Bulkers from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Seaport Global Securities restated a “buy” rating and issued a $13.00 price objective on shares of Scorpio Bulkers in a report on Tuesday, July 31st. B. Riley assumed coverage on Scorpio Bulkers in a report on Thursday, October 4th. They issued a “buy” rating and a $9.50 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded Scorpio Bulkers from an “overweight” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.50.

Scorpio Bulkers stock opened at $6.31 on Wednesday. The stock has a market capitalization of $471.24 million, a PE ratio of -11.07 and a beta of 3.02. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. Scorpio Bulkers has a 12 month low of $5.91 and a 12 month high of $8.45.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be issued a dividend of $0.02 per share. The ex-dividend date is Tuesday, November 13th. This represents a $0.08 annualized dividend and a dividend yield of 1.27%. Scorpio Bulkers’s payout ratio is currently -14.04%.

Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Scorpio Bulkers during the 2nd quarter valued at about $962,000. Trexquant Investment LP purchased a new stake in shares of Scorpio Bulkers during the 2nd quarter valued at about $226,000. Royal Bank of Canada raised its holdings in shares of Scorpio Bulkers by 1,579.1% during the 1st quarter. Royal Bank of Canada now owns 71,363 shares of the shipping company’s stock valued at $503,000 after buying an additional 67,113 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Bulkers by 71.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,659,693 shares of the shipping company’s stock valued at $11,701,000 after buying an additional 693,269 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Scorpio Bulkers by 24.2% during the 2nd quarter. Millennium Management LLC now owns 1,144,771 shares of the shipping company’s stock valued at $8,128,000 after buying an additional 222,818 shares during the period. Institutional investors and hedge funds own 38.94% of the company’s stock.

About Scorpio Bulkers

Scorpio Bulkers Inc, a shipping company, owns and operates dry bulk carriers. Its vessels transport a range of bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes. As of December 31, 2017, the company owned or finance leased 55 vessels comprising 18 Kamsarmax vessels and 37 Ultramax vessels.

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Earnings History and Estimates for Scorpio Bulkers (NYSE:SALT)

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