Stock Worth Watching: What’s Propelling Scorpio Bulkers Inc to Increase So Much?

Stock Worth Watching: What's Propelling Scorpio Bulkers Inc to Increase So Much?

The stock of Scorpio Bulkers Inc (NYSE:SALT) is a huge mover today! About 448,252 shares traded hands or 4.30% up from the average. Scorpio Bulkers Inc (NYSE:SALT) has risen 12.70% since March 2, 2016 and is uptrending. It has outperformed by 4.44% the S&P500.
The move comes after 7 months positive chart setup for the $293.16M company. It was reported on Oct, 5 by We have $10.43 PT which if reached, will make NYSE:SALT worth $501.30M more.

Analysts await Scorpio Bulkers Inc (NYSE:SALT) to report earnings on November, 7. They expect $-0.29 EPS, up 51.67% or $0.31 from last year’s $-0.6 per share. After $-0.48 actual EPS reported by Scorpio Bulkers Inc for the previous quarter, Wall Street now forecasts -39.58% EPS growth.

Scorpio Bulkers Inc (NYSE:SALT) Ratings Coverage

Out of 7 analysts covering Scorpio Bulkers (NYSE:SALT), 3 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 43% are positive. Scorpio Bulkers has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the shares of SALT in a report on Monday, March 21 with “Hold” rating. UBS maintained the shares of SALT in a report on Tuesday, December 1 with “Buy” rating. UBS downgraded the shares of SALT in a report on Thursday, March 17 to “Neutral” rating. The rating was downgraded by Stifel Nicolaus to “Hold” on Thursday, January 7. As per Friday, March 18, the company rating was maintained by Jefferies. As per Wednesday, August 24, the company rating was maintained by UBS. The firm earned “Neutral” rating on Thursday, October 15 by JP Morgan. The rating was upgraded by JP Morgan to “Overweight” on Tuesday, January 26. On Tuesday, August 2 the stock rating was reinitiated by Seaport Global with “Buy”. On Wednesday, November 18 the stock rating was downgraded by Deutsche Bank to “Hold”.

According to Zacks Investment Research, “Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. The company’s vessels consist of Ultramax, Kamsarmax and Capesize. It operates shipyards in Japan, China and Romania. Scorpio Bulkers Inc. is based in MONACO.”

More important recent Scorpio Bulkers Inc (NYSE:SALT) news were published by: which released: “BRIEF-Scorpio bulkers Inc. announces vessel price reductions” on October 03, 2016, also published article titled: “Scorpio Bulkers Inc. Announces Vessel Price Reductions and the Delay of …”, published: “News Scorpio Bulkers Inc.SALT” on December 07, 2013. More interesting news about Scorpio Bulkers Inc (NYSE:SALT) was released by: and their article: “Scorpio Bulkers Inc. Announces Purchase of Common Shares by Scorpio Services …” with publication date: January 12, 2016.

SALT Company Profile

Scorpio Bulkers Inc., incorporated on March 20, 2013, is a shipping company. The Firm offers marine transportation services for a range of bulk commodities, including ores, coal, grains and fertilizers using its vessels. The Firm focuses to acquire and operate the drybulk carriers. The Firm operates through three divisions: Capesize, Kamsarmax and Ultramax. The Company’s Capesize segment includes vessels of approximately 180,000 deadweight tonnage (DWT). The Company’s Kamsarmax segment includes vessels ranging from 77,500 DWT to 98,700 DWT. The Company’s Ultramax segment includes vessels ranging from 48,500 DWT to 64,000 DWT.

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