Eagle Bulk Shipping Inc. to Post Q3 2018 Earnings of $0.00 Per Share, B. Riley Forecasts (EGLE)

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) – Analysts at B. Riley issued their Q3 2018 earnings estimates for Eagle Bulk Shipping in a note issued to investors on Wednesday, October 3rd. B. Riley analyst L. Burke expects that the shipping company will post earnings of $0.00 per share for the quarter. B. Riley currently has a “Buy” rating and a $8.50 price objective on the stock. B. Riley also issued estimates for Eagle Bulk Shipping’s Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.14 EPS and FY2019 earnings at $0.49 EPS.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. The firm had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.76 million.

Other equities research analysts have also issued research reports about the stock. Maxim Group raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.00 to $7.50 in a report on Wednesday, July 25th. Noble Financial set a $6.00 target price on shares of Eagle Bulk Shipping and gave the stock a “buy” rating in a report on Thursday, August 9th. DNB Markets started coverage on shares of Eagle Bulk Shipping in a report on Monday, June 18th. They issued a “buy” rating on the stock. ValuEngine raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, Morgan Stanley started coverage on shares of Eagle Bulk Shipping in a report on Monday, June 18th. They issued an “equal weight” rating and a $6.50 target price on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.86.

EGLE opened at $5.66 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.48 and a current ratio of 2.76. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $6.14. The stock has a market capitalization of $410.47 million, a PE ratio of -13.48 and a beta of 1.73.

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in Eagle Bulk Shipping by 278.0% during the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock worth $112,000 after acquiring an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings 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 worth $146,000 after acquiring an additional 20,514 shares during the last quarter. Royal Bank of Canada grew its holdings in Eagle Bulk Shipping by 57,096.6% during the 1st quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock worth $164,000 after acquiring an additional 33,116 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings 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 worth $232,000 after acquiring an additional 26,441 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Eagle Bulk Shipping by 30.9% during the 2nd quarter. Rhumbline Advisers now owns 48,099 shares of the shipping company’s stock worth $262,000 after acquiring an additional 11,344 shares during the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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

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