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Scorpio Bulkers: A Buying Opportunity With Some Strings Attached
- Scorpio Bulkers has lost more than 50% or $700 million in market value since its IPO.
- SALT is adequately capitalized to meet its funding requirements in 2015.
- Current share price represents a 100% profit potential over the next 12 months.
- But risk of dilutive equity offerings to bridge equity gap in 2016 remains.
What Should You Pay For SALT? The Net Asset Value Of Scorpio Bulkers Plus The Premium
- SALT has amassed a huge order book of 79 dry bulk vessels across 3 vessel classes, with the majority being delivered in 2015 and 2016.
- A recovery in the dry bulk market is probable, according to the experts but the age old problem of over capacity may dampen the recovery when it materializes.
- SALT's share price is trading at circa 4% premium to its net asset value per share of $9.27.
- The premium is warranted as SALT offers: competent management, latest generation of bulk carriers and leveraging at the higher range of industry standards therefore maximizing shareholder returns.
- The current share price offers investors a good buy-in point.
Scorpio Bulkers Inc. - Like A Bull In A China Shop
Mon, Nov. 17, 9:42 AM
- Scorpio Tankers (NYSE:SALT) is halted on news it has entered into a private placement deal to sell 40M common shares at $3.75/share.
- SALT intends to use the $150M in proceeds to fund installment payments due under its newbuilding program, with any remaining amount used for general corporate purposes and working capital.
- Shares were -2.2% premarket.
Wed, Oct. 29, 8:39 AM
Wed, Oct. 8, 5:38 PM
Fri, Oct. 3, 5:36 PM
Tue, Sep. 16, 3:57 PM
- Ocean shipping of dry bulk commodities and oil will nearly double earnings capacity during the next several years while the smaller container ship industry will tread water, Deutsche Bank says.
- The firm believes the industry is "on the cusp of entering a new era of prosperity," driven by improved supply/demand dynamics, increased fleet utilization and abundant capital to fund profitable growth.
- On average, DB forecasts a near doubling of earnings power across its coverage universe by 2016 vs. 2013, led by shippers in the Dry Bulk and Oil trades.
- Initiated with Buy ratings: TNK +9.8%, CPLP +2.5%, DSX +2.8%, DRYS +5.5%, DLNG +2.4%, NNA +2.1%, SALT +0.8%, SSW +1.3%, GASS +3.3%.
- Started at Hold: TK +1.2%, NMM +0.3%, FRO +3.3%, TGH -0.6%.
Thu, Aug. 28, 12:56 PM
- Tanker and bulk operator Scorpio Group (STNG, SALT) and China's Bank of Communications have ordered five giant Triple E container vessels that will be leased to Switzerland's Mediterranean Shipping, WSJ reports.
- The leases, which will last at least 15 years, are part of MSC's plan to join forces with Denmark's Maersk Line (OTC:AMKAF, OTCPK:AMKBY) in an alliance set to go into force early next year and expected to control ~30% of all cargo moved on the world's busiest trade routes.
- Scorpio placed an order for three Triple E's with South Korea's Samsung Heavy Industries, while BoCom ordered two from Daewoo Shipbuilding.
Wed, Jul. 30, 9:05 AM
Wed, Apr. 30, 8:27 AM
Tue, Mar. 4, 9:07 AM
Dec. 19, 2013, 1:09 PM| Comment!
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