Scorpio Bulkers Inc. (SALT) Given New $4.50 Price Target at Deutsche Bank AG
A number of other brokerages have also weighed in on SALT. Seaport Global Securities restated a buy rating and set a $5.00 price target on shares of Scorpio Bulkers in a research note on Tuesday, August 2nd. Jefferies Group reaffirmed a buy rating and set a $5.00 target price on shares of Scorpio Bulkers in a report on Wednesday, July 6th. Clarkson Capital raised Scorpio Bulkers from a neutral rating to a buy rating in a 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 target price for the company in a report on Thursday, June 23rd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $5.29.
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 stock’s market capitalization is $184.18 million. The firm’s 50-day moving average is $3.48 and its 200-day moving average is $3.44.
Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.48) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.05. Scorpio Bulkers had a negative return on equity of 9.43% and a negative net margin of 621.88%. The business had revenue of $17.37 million for the quarter, compared to analyst estimates of $16.45 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue was up 35.9% on a year-over-year basis. On average, equities analysts expect that Scorpio Bulkers will post ($1.83) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in 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 during the period. Nomura Holdings Inc. purchased a new stake in shares of Scorpio Bulkers during the second quarter valued at approximately $133,000. Valueworks LLC purchased a new stake in shares of Scorpio Bulkers during the second quarter valued at approximately $142,000. Geode Capital Management LLC boosted its stake 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 valued at $148,000 after buying an additional 18,172 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake 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 valued at $150,000 after buying an additional 9,043 shares during the last quarter. Institutional investors and hedge funds 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.
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