Brokerages expect Eagle Bulk Shipping Inc (NASDAQ:EGLE) to post $0.03 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Eagle Bulk Shipping’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.01. Eagle Bulk Shipping reported earnings per share of ($0.17) in the same quarter last year, which suggests a positive year-over-year growth rate of 117.6%. The company is expected to issue its next quarterly earnings results on Monday, May 14th.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full-year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from ($0.19) to $0.23. For the next fiscal year, analysts expect that the business will report earnings of $0.40 per share, with EPS estimates ranging from $0.26 to $0.54. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings results on Monday, March 5th. The shipping company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $74.59 million for the quarter, compared to analyst estimates of $58.34 million. Eagle Bulk Shipping had a negative return on equity of 6.04% and a negative net margin of 18.50%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Noble Financial assumed coverage on shares of Eagle Bulk Shipping in a report on Friday, January 12th. They set a “buy” rating and a $6.00 target price for the company. BidaskClub raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Maxim Group reaffirmed a “hold” rating and set a $5.00 target price on shares of Eagle Bulk Shipping in a report on Monday, March 5th. Finally, ValuEngine lowered shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Eagle Bulk Shipping currently has an average rating of “Hold” and a consensus target price of $5.75.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in shares of Eagle Bulk Shipping by 67.9% in the fourth quarter. Millennium Management LLC now owns 146,157 shares of the shipping company’s stock valued at $655,000 after purchasing an additional 59,101 shares during the period. Strategic Value Partners LLC purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $10,727,000. Raynor Geoffrey grew its holdings in shares of Eagle Bulk Shipping by 24.6% in the fourth quarter. Raynor Geoffrey now owns 447,011 shares of the shipping company’s stock valued at $2,003,000 after purchasing an additional 88,255 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $776,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $127,000. 27.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Eagle Bulk Shipping (NASDAQ EGLE) opened at $5.48 on Friday. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $5.92. The company has a market capitalization of $385.06, a PE ratio of -8.56 and a beta of 2.83. The company has a quick ratio of 3.75, a current ratio of 3.41 and a debt-to-equity ratio of 0.68.
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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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