Wall Street analysts expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to report ($0.02) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings. The highest EPS estimate is $0.01 and the lowest is ($0.06). Eagle Bulk Shipping posted earnings per share of $0.04 in the same quarter last year, which indicates a negative year-over-year growth rate of 150%. The business is expected to report its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Eagle Bulk Shipping will report full year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.14) to ($0.02). For the next financial year, analysts forecast that the business will report earnings of $0.45 per share, with EPS estimates ranging from $0.06 to $0.84. Zacks Investment Research’s 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 issued its quarterly earnings results on Monday, July 29th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The company had revenue of $48.48 million for the quarter, compared to analyst estimates of $49.96 million. Eagle Bulk Shipping had a return on equity of 0.27% and a net margin of 1.03%.
Several brokerages recently issued reports on EGLE. Jefferies Financial Group began coverage on shares of Eagle Bulk Shipping in a research report on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price target on the stock. BidaskClub downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TheStreet downgraded shares of Eagle Bulk Shipping from a “c” rating to a “d+” rating in a research report on Wednesday, August 14th. Noble Financial reiterated a “buy” rating and set a $6.00 price target on shares of Eagle Bulk Shipping in a research report on Wednesday, September 11th. Finally, Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “strong sell” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $5.80.
NASDAQ EGLE traded down $0.05 on Friday, hitting $4.61. 194,000 shares of the company were exchanged, compared to its average volume of 267,007. The firm has a 50 day moving average of $4.53 and a two-hundred day moving average of $4.86. The company has a market cap of $328.10 million, a P/E ratio of 25.61 and a beta of 1.24. The company has a current ratio of 1.03, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66. Eagle Bulk Shipping has a 1-year low of $3.85 and a 1-year high of $5.92.
In other news, Director Paul M. Jr. Leand acquired 59,300 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average cost of $4.17 per share, with a total value of $247,281.00. Following the acquisition, the director now owns 189,658 shares of the company’s stock, valued at approximately $790,873.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Group Holdings acquired 650,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were purchased at an average cost of $4.56 per share, with a total value of $2,964,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,569,356 shares of company stock valued at $11,649,516 over the last three months. Company insiders own 4.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Oaktree Capital Management LP raised its holdings in Eagle Bulk Shipping by 2.9% during the 2nd quarter. Oaktree Capital Management LP now owns 27,034,083 shares of the shipping company’s stock worth $141,658,000 after purchasing an additional 766,616 shares during the last quarter. BlackRock Inc. raised its holdings in Eagle Bulk Shipping by 30.7% during the 2nd quarter. BlackRock Inc. now owns 3,323,264 shares of the shipping company’s stock worth $17,414,000 after purchasing an additional 780,881 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Eagle Bulk Shipping by 27.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock worth $7,231,000 after purchasing an additional 334,039 shares during the last quarter. Bank of America Corp DE raised its holdings in Eagle Bulk Shipping by 1.9% during the 2nd quarter. Bank of America Corp DE now owns 599,174 shares of the shipping company’s stock worth $3,140,000 after purchasing an additional 11,235 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Eagle Bulk Shipping by 4.5% in the 2nd quarter. Northern Trust Corp now owns 576,910 shares of the shipping company’s stock valued at $3,023,000 after acquiring an additional 24,717 shares during the last quarter. 85.33% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Article: What is Elliott Wave theory?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.