Analyst Jonathan Chappell increased his 2016 profit estimate for the company to $2.85 per share from a previous projection of $2.53 per share. His 2014 estimate rose to $0.04 in earnings per share (EPS) from $0.02, while 2015 remains unchanged.
The increases represent more than $45.1m in additional earnings based on nearly 133 million shares.
The forecast hike comes a day New York-listed Scorpio Bulkers confirmed that it bought five capesize newbuildings in resale deals worth $306m and chartered in seven vessels at terms ranging between seven months and three years.
Chappell
