Scorpio Bulkers Inc. (NYSE:SALT) is trading up 232.40% versus 12-month low of 1.79 and stands -5.56% lower from its 1-year peak of $6.30. The consensus price target (PT) of $4.91 means that the market expects Company shares to increase by -13.9% in the short run. The sell-side target prices range from $2.5 to $7.25. In the last month the stock has moved in price 7.21%, with a one year change of 25.26%. The last trading session volume compares with the 827.26K average and market worth floats around 471.89M.
Scorpio Bulkers Inc. (NYSE:SALT) gained 4.39% to reach at the trading price of $5.95 as it is set to release its next quarterly earnings report on March 07, 2017. Scorpio Bulkers Inc. stock trades in the range of $5.70 to $5.95 before the earnings release. Let’s take a closer look at the current earnings forecast, particularly the things traders should pay close attention to. Earnings per share for the recently concluded quarter is expected to come in at $-0.26 a share with $28.93M in revenue.
Scorpio Bulkers Inc. (SALT) Future Earnings & History
After upcoming fiscal quarter results, all eyes will be on the prospects for the next reporting quarter. Analysts, on average, forecast Scorpio Bulkers Inc. to earn $-0.26 per share (EPS) on revenue of $30.59M. The EPS consensus range is $-0.36-$-0.18 on revenue between $36M and $23.88M.
While if we look at the Earnings Track Record, Scorpio Bulkers Inc. (SALT) managed to surpass quarterly earnings per share estimates in 6 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 50%. Last time the company reported, Scorpio Bulkers Inc. (SALT) generated $-0.30 in earnings per share, missing the consensus estimate of $-0.29. Revenues hit $23.94M in the September 2017 quarter, which was below the consensus $24.3M projection. On the other hand, in the June 2017 quarter the company recorded a net $17.37M revenue with earnings per share of $-0.48. Wall Street had anticipated $17.01M and $-0.53, respectively. For comparison, there was a revenue of $10.24M and EPS of $-1.12 in the March 2016 period.
Scorpio Bulkers Inc. (NYSE:SALT) Analyst Insights
The buoyancy in the outlook of Scorpio Bulkers Inc. (SALT) is getting weaker by the somewhat negative sentiment (2.30 on a 5-point scale) that sell-side analysts have provided concerning it. Brokerage firms on the average advocate the company shares as Buy. Stifel has been covering shares of SALT, so it is most recent view is worth a look. In a research note issued on Jan 26, 2016, analysts at JP Morgan lifted the stock to Overweight from Neutral. Another noteworthy analyst activity was recorded on Jan 07, 2016. Downgraded the stock to Hold from Buy.