Scorpio Bulkers Inc (SALT) is Resumed by Seaport Global Securities to Buy, Price Target at $5

Scorpio Bulkers Inc (SALT) was Resumed by Seaport Global Securities to “Buy” and the brokerage firm has set the Price Target at $5. Seaport Global Securities advised their investors in a research report released on Aug 2, 2016.

On the company’s financial health, Scorpio Bulkers Inc reported $-0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.53. The company had revenue of $17.37 million for the quarter, compared to analysts expectations of $18.04 million. The company’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Scorpio Bulkers Inc opened for trading at $3.25 and hit $3.57 on the upside on Friday, eventually ending the session at $3.29, with a gain of 0.92% or 0.03 points. The heightened volatility saw the trading volume jump to 21,95,460 shares. Company has a market cap of $239 M.

Scorpio Bulkers Inc is a company engaged in marine transportation based in the Marshall Islands. It is a provider of transportation services of dry bulk commodities. The Company aims to acquire own and operate a fleet of medium-sized dry bulk carriers. It has offices in Monaco and New York. The Company has contracted and agreed to purchase 28 Ultramax 21 Kamsarmax and three Capesize newbuilding dry ship vessels with deliveries scheduled from second quarter of 2014. It is a part of the Scorpio Group.

Scorpio Bulkers Inc

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