Brokerages expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to post $0.72 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings. The lowest EPS estimate is $0.20 and the highest is $1.19. Eagle Bulk Shipping posted earnings per share of ($0.35) during the same quarter last year, which would suggest a positive year over year growth rate of 305.7%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, May 6th.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full-year earnings of $4.71 per share for the current year, with EPS estimates ranging from $1.68 to $9.17. For the next year, analysts forecast that the business will post earnings of $3.38 per share, with EPS estimates ranging from $1.20 to $5.68. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Friday, March 5th. The shipping company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.28. Eagle Bulk Shipping had a negative net margin of 17.08% and a negative return on equity of 9.71%. The business had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $54.35 million.
A number of research firms have recently commented on EGLE. TheStreet raised shares of Eagle Bulk Shipping from a “d+” rating to a “c-” rating in a research report on Monday, April 5th. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, January 12th. BTIG Research boosted their target price on shares of Eagle Bulk Shipping from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley boosted their target price on shares of Eagle Bulk Shipping from $27.25 to $42.00 and gave the stock a “buy” rating in a research report on Monday, March 8th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $38.00 target price on shares of Eagle Bulk Shipping in a research report on Thursday, March 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Eagle Bulk Shipping has an average rating of “Buy” and a consensus price target of $31.82.
Shares of NASDAQ EGLE traded down $1.58 during trading on Tuesday, reaching $44.82. 5,173 shares of the stock were exchanged, compared to its average volume of 121,580. The business’s 50-day moving average price is $38.52 and its 200 day moving average price is $25.65. Eagle Bulk Shipping has a twelve month low of $8.89 and a twelve month high of $47.79. The company has a quick ratio of 1.27, a current ratio of 1.40 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $557.70 million, a price-to-earnings ratio of -9.91 and a beta of 1.46.
In other Eagle Bulk Shipping news, CFO Costanzo Frank De sold 952 shares of the business’s stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $42.35, for a total transaction of $40,317.20. Following the completion of the sale, the chief financial officer now owns 45,425 shares in the company, valued at $1,923,748.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 40,409 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $39.20, for a total transaction of $1,584,032.80. The disclosure for this sale can be found here. Insiders sold 343,294 shares of company stock worth $12,784,720 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in EGLE. Paloma Partners Management Co bought a new stake in Eagle Bulk Shipping during the fourth quarter valued at $1,059,000. Entrust Global Partners L L C bought a new stake in Eagle Bulk Shipping during the fourth quarter valued at $756,000. Tudor Investment Corp Et Al bought a new stake in Eagle Bulk Shipping during the fourth quarter valued at $665,000. BlackRock Inc. grew its position in shares of Eagle Bulk Shipping by 4.5% during the fourth quarter. BlackRock Inc. now owns 565,581 shares of the shipping company’s stock worth $10,746,000 after acquiring an additional 24,528 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Eagle Bulk Shipping during the fourth quarter worth about $433,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.
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