Eagle Bulk Shipping Inc. (EGLE) Expected to Announce Earnings of $0.05 Per Share

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Equities analysts expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will report earnings per share (EPS) of $0.05 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eagle Bulk Shipping’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.16. Eagle Bulk Shipping reported earnings per share of ($0.15) during the same quarter last year, which would suggest a positive year-over-year growth rate of 133.3%. The company is scheduled to report its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Eagle Bulk Shipping will report full year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.26. For the next year, analysts expect that the business will post earnings of $0.66 per share, with EPS estimates ranging from $0.19 to $1.13. Zacks Investment Research’s earnings per share 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 announced its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.76 million. Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%.

A number of equities analysts recently issued reports on EGLE shares. BidaskClub upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. ValuEngine upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. DNB Markets started coverage on shares of Eagle Bulk Shipping in a research note on Monday, June 18th. They issued a “buy” rating on the stock. Maxim Group upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and upped their price target for the stock from $6.00 to $7.50 in a research note on Wednesday, July 25th. Finally, Noble Financial set a $6.00 price target on shares of Eagle Bulk Shipping and gave the stock a “buy” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Eagle Bulk Shipping presently has a consensus rating of “Hold” and an average target price of $6.58.

Eagle Bulk Shipping stock traded up $0.02 during mid-day trading on Wednesday, reaching $5.00. The stock had a trading volume of 314,400 shares, compared to its average volume of 371,437. The stock has a market cap of $365.92 million, a price-to-earnings ratio of -11.90 and a beta of 2.23. Eagle Bulk Shipping has a one year low of $4.18 and a one year high of $6.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Eagle Bulk Shipping by 22.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,017 shares of the shipping company’s stock valued at $658,000 after acquiring an additional 21,947 shares during the period. Tower Research Capital LLC TRC lifted its stake in Eagle Bulk Shipping by 319.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 20,514 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Eagle Bulk Shipping by 162.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock valued at $232,000 after acquiring an additional 26,441 shares during the period. Bank of America Corp DE lifted its stake in Eagle Bulk Shipping by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 584,217 shares of the shipping company’s stock valued at $3,179,000 after acquiring an additional 10,288 shares during the period. Finally, Renaissance Technologies LLC lifted its stake 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. Institutional investors and hedge funds own 46.71% of the company’s stock.

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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Earnings History and Estimates for Eagle Bulk Shipping (NASDAQ:EGLE)

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