FY2019 EPS Estimates for Scorpio Bulkers Inc (NYSE:SALT) Lifted by B. Riley

Scorpio Bulkers Inc (NYSE:SALT) – B. Riley lifted their FY2019 EPS estimates for Scorpio Bulkers in a research report issued on Thursday, October 24th, according to Zacks Investment Research. B. Riley analyst L. Burke now anticipates that the shipping company will earn ($0.18) per share for the year, up from their previous forecast of ($0.24). B. Riley currently has a “Buy” rating and a $9.50 target price on the stock. B. Riley also issued estimates for Scorpio Bulkers’ Q4 2019 earnings at ($0.03) EPS and FY2020 earnings at ($0.17) EPS.

Scorpio Bulkers (NYSE:SALT) last announced its earnings results on Wednesday, October 23rd. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $60.63 million. During the same period in the prior year, the company posted $0.02 EPS. Scorpio Bulkers’s quarterly revenue was up 1.1% on a year-over-year basis.

Other equities research analysts have also issued reports about the company. BTIG Research upped their price target on Scorpio Bulkers to $9.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Noble Financial set a $8.50 price target on Scorpio Bulkers and gave the company a “buy” rating in a research report on Tuesday, Septemb....

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