Analysts Anticipate Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to Post $0.01 EPS

Wall Street analysts forecast that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will post earnings per share of $0.01 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.02. Eagle Bulk Shipping reported earnings of $0.09 per share during the same quarter last year, which indicates a negative year over year growth rate of 88.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, March 3rd.

On average, analysts expect that Eagle Bulk Shipping will report full-year earnings of ($0.14) per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of $0.67 per share, with EPS estimates ranging from $0.60 to $0.73. Zacks Investment Research’s EPS calculations 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 quarterly earnings results on Wednesday, November 6th. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). Eagle Bulk Shipping had a negative return on equity of 1.22% and a negative net margin of 1.31%. The firm had revenue of $54.66 million for the quarter, compared to analyst estimates of $55.95 million.

Several equities research analysts have issued reports on EGLE shares. ValuEngine raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. BidaskClub cut shares of Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 17th. Finally, Zacks Investment Research cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.80.

In related news, CEO Gary Vogel sold 6,118 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.52, for a total value of $27,653.36. Following the sale, the chief executive officer now directly owns 993,223 shares of the company’s stock, valued at $4,489,367.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $4.68, for a total transaction of $67,382.64. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC purchased a new position in Eagle Bulk Shipping in the fourth quarter valued at approximately $2,079,000. Millennium Management LLC raised its holdings in Eagle Bulk Shipping by 9.3% in the third quarter. Millennium Management LLC now owns 238,583 shares of the shipping company’s stock valued at $1,043,000 after buying an additional 20,366 shares during the period. Squarepoint Ops LLC purchased a new position in Eagle Bulk Shipping in the third quarter valued at approximately $65,000. Monarch Partners Asset Management LLC raised its holdings in Eagle Bulk Shipping by 45.8% in the third quarter. Monarch Partners Asset Management LLC now owns 102,176 shares of the shipping company’s stock valued at $447,000 after buying an additional 32,100 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Eagle Bulk Shipping by 6.2% in the third quarter. California Public Employees Retirement System now owns 259,058 shares of the shipping company’s stock valued at $1,133,000 after buying an additional 15,135 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.

Shares of Eagle Bulk Shipping stock traded down $0.03 during mid-day trading on Friday, hitting $4.32. 1,875 shares of the stock were exchanged, compared to its average volume of 270,317. Eagle Bulk Shipping has a twelve month low of $3.79 and a twelve month high of $5.92. The stock has a market capitalization of $333.34 million, a price-to-earnings ratio of 24.17 and a beta of 1.49. The company has a 50-day simple moving average of $4.48 and a 200 day simple moving average of $4.57. The company has a current ratio of 1.39, a quick ratio of 1.22 and a debt-to-equity ratio of 0.81.

About Eagle Bulk Shipping

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

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