Scorpio Bulkers Inc (NYSE:SALT) has earned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.46.

Several research analysts have commented on SALT shares. Zacks Investment Research raised Scorpio Bulkers from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research report on Wednesday, December 27th. Noble Financial started coverage on Scorpio Bulkers in a research report on Friday, January 12th. They issued a “buy” rating and a $10.00 price target on the stock. Jefferies Group started coverage on Scorpio Bulkers in a research report on Monday, December 18th. They issued a “buy” rating and a $14.00 price target on the stock. BidaskClub downgraded Scorpio Bulkers from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $9.00 price target on shares of Scorpio Bulkers in a research report on Tuesday, October 24th.

Shares of Scorpio Bulkers (SALT) traded up $0.42 during trading on Friday, hitting $7.92. The stock had a trading volume of 173,698 shares, compared to its average volume of 592,035. The firm has a market cap of $561.77, a price-to-earnings ratio of -7.12 and a beta of 3.43. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.54. Scorpio Bulkers has a fifty-two week low of $5.70 and a fifty-two week high of $10.14.

Scorpio Bulkers (NYSE:SALT) last issued its quarterly earnings data on Monday, February 5th. The shipping company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Scorpio Bulkers had a negative return on equity of 6.51% and a negative net margin of 57.43%. The business had revenue of $51.13 million for the quarter, compared to the consensus estimate of $49.34 million. During the same period last year, the business earned ($0.29) EPS. The firm’s revenue was up 90.4% compared to the same quarter last year. equities research analysts predict that Scorpio Bulkers will post -0.57 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Scorpio Bulkers by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 198,177 shares of the shipping company’s stock valued at $1,408,000 after purchasing an additional 508 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Scorpio Bulkers by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,004 shares of the shipping company’s stock valued at $326,000 after buying an additional 1,291 shares in the last quarter. Vanguard Group Inc. boosted its stake in Scorpio Bulkers by 1.9% in the 2nd quarter. 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 in the last quarter. Teachers Advisors LLC boosted its stake in Scorpio Bulkers by 2.4% in the 2nd quarter. Teachers Advisors LLC now owns 105,567 shares of the shipping company’s stock valued at $750,000 after buying an additional 2,439 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Scorpio Bulkers by 27.2% in the 2nd quarter. Voya Investment Management LLC now owns 25,660 shares of the shipping company’s stock valued at $182,000 after buying an additional 5,493 shares in the last quarter. Institutional investors and hedge funds own 40.97% of the company’s stock.

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About Scorpio Bulkers

Scorpio Bulkers Inc is a shipping company. The Company owns and operates newbuilding drybulk carriers with fuel-efficient specifications and carrying capacities of greater than 30,000 deadweight tons (dwt). The Company operates through two segments: Kamsarmax and Ultramax. Its Kamsarmax segment includes vessels ranging from approximately 77,500 DWT to 98,700 DWT.

Analyst Recommendations for Scorpio Bulkers (NYSE:SALT)

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