Equities research analysts expect Eagle Bulk Shipping Inc (NASDAQ:EGLE) to announce sales of $58.34 million for the current quarter, according to Zacks. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings. The highest sales estimate is $72.11 million and the lowest is $45.90 million. Eagle Bulk Shipping posted sales of $41.84 million in the same quarter last year, which suggests a positive year over year growth rate of 39.4%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, March 5th.
On average, analysts expect that Eagle Bulk Shipping will report full year sales of $58.34 million for the current financial year, with estimates ranging from $163.90 million to $234.30 million. For the next financial year, analysts anticipate that the firm will report sales of $227.27 million per share, with estimates ranging from $151.60 million to $286.33 million. Zacks’ sales averages are an average based on a survey of analysts that cover Eagle Bulk Shipping.
EGLE has been the subject of several research analyst reports. Zacks Investment Research lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Maxim Group reaffirmed a “hold” rating and set a $4.50 target price on shares of Eagle Bulk Shipping in a report on Thursday, November 2nd. BidaskClub raised Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a report on Friday, February 9th. ValuEngine raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, Noble Financial began coverage on Eagle Bulk Shipping in a report on Friday, January 12th. They set a “buy” rating and a $6.00 target price for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.00.
Shares of Eagle Bulk Shipping (NASDAQ:EGLE) traded up $0.01 during trading on Tuesday, reaching $4.76. The company had a trading volume of 391,103 shares, compared to its average volume of 519,334. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.25 and a quick ratio of 3.75. Eagle Bulk Shipping has a 1 year low of $4.18 and a 1 year high of $5.92.
Large investors have recently bought and sold shares of the company. Mangrove Partners grew its holdings in shares of Eagle Bulk Shipping by 1,426.5% during the third quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock valued at $10,771,000 after purchasing an additional 2,222,000 shares during the last quarter. Northern Trust Corp acquired a new position in shares of Eagle Bulk Shipping during the second quarter worth approximately $1,558,000. Bank of New York Mellon Corp acquired a new position in shares of Eagle Bulk Shipping during the second quarter worth approximately $496,000. Neuberger Berman Group LLC acquired a new position in shares of Eagle Bulk Shipping during the third quarter worth approximately $13,609,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Eagle Bulk Shipping during the second quarter worth approximately $597,000. 26.26% of the stock is owned by institutional investors.
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Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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