Wall Street brokerages expect that Scorpio Bulkers Inc (NYSE:SALT) will report sales of $67.22 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Scorpio Bulkers’ earnings, with the lowest sales estimate coming in at $62.86 million and the highest estimate coming in at $69.77 million. Scorpio Bulkers posted sales of $65.17 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The company is expected to issue its next quarterly earnings report on Monday, January 27th.
On average, analysts expect that Scorpio Bulkers will report full-year sales of $229.69 million for the current fiscal year, with estimates ranging from $225.54 million to $231.60 million. For the next year, analysts forecast that the company will post sales of $287.97 million, with estimates ranging from $258.48 million to $305.76 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Scorpio Bulkers.
Scorpio Bulkers (NYSE:SALT) last posted its quarterly earnings results on Wednesday, October 23rd. The shipping company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Scorpio Bulkers had a negative return on equity of 0.74% and a net margin of 9.74%. The company had revenue of $63.20 million during the quarter, compared to the consensus estimate of $60.63 million. During the same period last year, the business earned $0.02 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of Scorpio Bulkers by 12.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,527,192 shares of the shipping company’s stock valued at $7,025,000 after acquiring an additional 164,083 shares during the last quarter. State Street Corp grew its stake in Scorpio Bulkers by 0.6% in the 3rd quarter. State Street Corp now owns 951,636 shares of the shipping company’s stock valued at $5,786,000 after buying an additional 5,344 shares in the last quarter. Hourglass Capital LLC grew its stake in Scorpio Bulkers by 12.5% in the 2nd quarter. Hourglass Capital LLC now owns 875,000 shares of the shipping company’s stock valued at $4,025,000 after buying an additional 97,500 shares in the last quarter. Millennium Management LLC grew its stake in Scorpio Bulkers by 64.6% in the 3rd quarter. Millennium Management LLC now owns 726,353 shares of the shipping company’s stock valued at $4,416,000 after buying an additional 285,141 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Scorpio Bulkers by 111.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 476,284 shares of the shipping company’s stock valued at $2,143,000 after buying an additional 250,583 shares in the last quarter. 34.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of SALT traded down $0.18 during midday trading on Tuesday, reaching $5.91. 308,720 shares of the stock were exchanged, compared to its average volume of 399,250. Scorpio Bulkers has a 12-month low of $3.57 and a 12-month high of $7.78. The firm has a 50 day simple moving average of $6.21 and a 200-day simple moving average of $5.84. 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 has a market cap of $442.18 million, a price-to-earnings ratio of -197.00 and a beta of 2.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, November 14th. Scorpio Bulkers’s dividend payout ratio is -266.67%.
Scorpio Bulkers Company Profile
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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