Wall Street brokerages expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will announce ($0.07) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Eagle Bulk Shipping’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.06). Eagle Bulk Shipping posted earnings per share of $0.05 during the same quarter last year, which suggests a negative year-over-year growth rate of 240%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that Eagle Bulk Shipping will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.05 to $0.12. For the next financial year, analysts forecast that the firm will post earnings of $0.70 per share, with EPS estimates ranging from $0.54 to $0.85. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The firm had revenue of $51.48 million for the quarter, compared to analyst estimates of $47.72 million. Eagle Bulk Shipping had a return on equity of 2.25% and a net margin of 4.07%.
EGLE has been the topic of several recent analyst reports. Maxim Group set a $7.00 price target on Eagle Bulk Shipping and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. BidaskClub lowered Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $6.68.
Shares of NASDAQ:EGLE traded down $0.03 during trading on Friday, hitting $5.19. 473,266 shares of the company were exchanged, compared to its average volume of 272,806. The stock has a market capitalization of $379.65 million, a PE ratio of 28.83 and a beta of 1.29. Eagle Bulk Shipping has a fifty-two week low of $3.85 and a fifty-two week high of $6.09. The firm has a fifty day simple moving average of $5.09. The company has a current ratio of 1.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.
In other Eagle Bulk Shipping news, major shareholder Oaktree Capital Group Holdings bought 27,300 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, June 12th. The stock was bought at an average cost of $4.67 per share, for a total transaction of $127,491.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary Vogel sold 7,250 shares of Eagle Bulk Shipping stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $5.59, for a total value of $40,527.50. Following the transaction, the chief executive officer now owns 1,105,432 shares of the company’s stock, valued at $6,179,364.88. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 734,100 shares of company stock worth $3,437,755 and have sold 84,890 shares worth $463,262. 4.10% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in Eagle Bulk Shipping by 465.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 8,185 shares during the period. West Chester Capital Advisors Inc. bought a new stake in Eagle Bulk Shipping in the 1st quarter valued at $47,000. Mraz Amerine & Associates Inc. bought a new stake in Eagle Bulk Shipping in the 1st quarter valued at $87,000. Paloma Partners Management Co bought a new stake in Eagle Bulk Shipping in the 4th quarter valued at $153,000. Finally, Rhumbline Advisers boosted its stake in Eagle Bulk Shipping by 42.7% in the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock valued at $317,000 after purchasing an additional 20,557 shares during the period. Institutional investors own 84.11% of the company’s stock.
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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