Equities research analysts expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to announce $0.01 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Eagle Bulk Shipping’s earnings, with estimates ranging from ($0.09) to $0.10. Eagle Bulk Shipping reported earnings of ($0.08) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 112.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full-year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from ($0.19) to $0.52. For the next financial year, analysts anticipate that the business will report earnings of $0.76 per share, with EPS estimates ranging from $0.26 to $1.13. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its earnings results on Wednesday, May 9th. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $56.86 million during the quarter, compared to the consensus estimate of $57.24 million. Eagle Bulk Shipping had a negative return on equity of 3.76% and a negative net margin of 12.09%.
Several research firms have issued reports on EGLE. Maxim Group reaffirmed a “hold” rating and issued a $6.00 price target on shares of Eagle Bulk Shipping in a report on Wednesday, May 9th. Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. ValuEngine raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Deutsche Bank began coverage on Eagle Bulk Shipping in a report on Thursday, January 25th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, BidaskClub raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.00.
In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp sold 48,000 shares of the company’s stock in a transaction on Wednesday, April 25th. The stock was sold at an average price of $5.23, for a total value of $251,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Trexquant Investment LP raised its stake in Eagle Bulk Shipping by 31.3% during the 1st quarter. Trexquant Investment LP now owns 62,143 shares of the shipping company’s stock valued at $308,000 after purchasing an additional 14,812 shares during the period. Wells Fargo & Company MN raised its stake in Eagle Bulk Shipping by 278.0% during the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 16,601 shares during the period. Jump Trading LLC acquired a new stake in Eagle Bulk Shipping during the 1st quarter valued at $113,000. Citadel Advisors LLC acquired a new stake in Eagle Bulk Shipping during the 4th quarter valued at $123,000. Finally, Two Sigma Advisers LP acquired a new stake in Eagle Bulk Shipping during the 4th quarter valued at $127,000. 28.10% of the stock is currently owned by institutional investors.
Shares of NASDAQ EGLE traded up $0.09 during trading on Monday, hitting $5.74. The company had a trading volume of 621,000 shares, compared to its average volume of 388,263. Eagle Bulk Shipping has a 52 week low of $5.64 and a 52 week high of $5.71. The company has a quick ratio of 2.47, a current ratio of 2.82 and a debt-to-equity ratio of 0.67.
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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