Equities analysts expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will post earnings per share of $0.09 for the current quarter, Zacks Investment Research reports. Five 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 ($0.02) per share during the same quarter last year, which indicates a positive year over year growth rate of 550%. The business is expected to announce its next quarterly earnings results on Monday, March 4th.
On average, analysts expect that Eagle Bulk Shipping will report full year earnings of $0.17 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.18. For the next year, analysts anticipate that the business will post earnings of $0.61 per share, with EPS estimates ranging from $0.43 to $0.84. Zacks’ EPS calculations are an average based on a survey of research firms that cover Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Tuesday, November 6th. The shipping company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Eagle Bulk Shipping had a positive return on equity of 0.96% and a negative net margin of 3.52%. The firm had revenue of $53.97 million for the quarter, compared to the consensus estimate of $57.49 million.
Several research firms recently commented on EGLE. BidaskClub upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. ValuEngine downgraded Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 25th. Finally, B. Riley began coverage on Eagle Bulk Shipping in a research note on Thursday, October 4th. They issued a “buy” rating and a $8.50 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.17.
Eagle Bulk Shipping stock traded up $0.07 during trading on Friday, hitting $5.05. The stock had a trading volume of 9,214 shares, compared to its average volume of 344,437. Eagle Bulk Shipping has a 1 year low of $4.03 and a 1 year high of $6.14. The company has a current ratio of 2.16, a quick ratio of 1.91 and a debt-to-equity ratio of 0.63. The company has a market cap of $376.14 million, a price-to-earnings ratio of -12.02 and a beta of 1.38.
In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp bought 93,354 shares of the stock in a transaction on Thursday, November 15th. The shares were acquired at an average price of $4.67 per share, with a total value of $435,963.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Group Holdings bought 960,000 shares of the stock in a transaction on Friday, December 28th. The shares were acquired at an average cost of $4.39 per share, for a total transaction of $4,214,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,098,604 shares of company stock worth $18,563,554 and sold 71,445 shares worth $341,008. 3.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of EGLE. Vanguard Group Inc raised its holdings in Eagle Bulk Shipping by 33.0% during the 3rd quarter. Vanguard Group Inc now owns 2,686,775 shares of the shipping company’s stock valued at $15,100,000 after acquiring an additional 666,715 shares during the period. Vanguard Group Inc. raised its holdings in Eagle Bulk Shipping by 33.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,686,775 shares of the shipping company’s stock valued at $15,100,000 after acquiring an additional 666,715 shares during the period. BlackRock Inc. raised its holdings in Eagle Bulk Shipping by 36.9% during the 2nd quarter. BlackRock Inc. now owns 2,341,425 shares of the shipping company’s stock valued at $12,739,000 after acquiring an additional 631,400 shares during the period. Renaissance Technologies LLC raised its holdings in Eagle Bulk Shipping by 101.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,226,284 shares of the shipping company’s stock valued at $6,671,000 after acquiring an additional 618,884 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Eagle Bulk Shipping by 80.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 918,236 shares of the shipping company’s stock valued at $4,995,000 after acquiring an additional 409,854 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.
Eagle Bulk Shipping Company Profile
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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