Market Runner: Could Scorpio Bulkers Inc Decline After Today’s Significant Increase?

Market Runner: Could Scorpio Bulkers Inc Decline After Today's Significant Increase?

The stock of Scorpio Bulkers Inc (NYSE:SALT) is a huge mover today! About 595,579 shares traded hands or 38.28% up from the average. Scorpio Bulkers Inc (NYSE:SALT) has risen 19.11% since March 29, 2016 and is uptrending. It has outperformed by 15.63% the S&P500.
The move comes after 5 months positive chart setup for the $282.83 million company. It was reported on Oct, 31 by We have $11.19 PT which if reached, will make NYSE:SALT worth $528.89M 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. The rating was downgraded by Evercore on Monday, March 21 to “Hold”. The rating was upgraded by Deutsche Bank to “Buy” on Wednesday, July 29. The rating was downgraded by Deutsche Bank on Wednesday, November 18 to “Hold”. On Wednesday, August 24 the stock rating was maintained by UBS with “Sell”. The firm has “Neutral” rating by UBS given on Thursday, March 17. The firm earned “Buy” rating on Tuesday, December 1 by UBS. The stock has “Neutral” rating given by JP Morgan on Thursday, October 15. The stock of Scorpio Bulkers Inc (NYSE:SALT) earned “Overweight” rating by JP Morgan on Tuesday, January 26. The stock has “Hold” rating given by Stifel Nicolaus on Thursday, January 7. The stock of Scorpio Bulkers Inc (NYSE:SALT) has “Hold” rating given on Monday, March 21 by Deutsche Bank.

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 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 the news titled: “Scorpio Bulkers Inc.: Scorpio Bulkers Inc. Announces Third Quarter Earnings …” on October 24, 2016.‘s news article titled: “Scorpio Bulkers Inc. Announces Vessel Price Reductions and the Delay of …” with publication date: October 03, 2016 was also an interesting one.

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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