$0.13 EPS Expected for Eagle Bulk Shipping Inc. (EGLE) This Quarter

Brokerages expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will post earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Eagle Bulk Shipping’s earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.21. Eagle Bulk Shipping posted earnings of ($0.02) per share during the same quarter last year, which would indicate a positive year over year growth rate of 750%. The firm is expected to issue its next earnings report on Monday, March 4th.

On average, 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 $0.17 to $0.32. For the next year, analysts anticipate that the firm will post earnings of $0.55 per share, with EPS estimates ranging from $0.19 to $0.84. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Tuesday, November 6th. The shipping company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $57.49 million. Eagle Bulk Shipping had a positive return on equity of 0.96% and a negative net margin of 3.52%.

A number of research firms recently weighed in on EGLE. BidaskClub raised Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday. Noble Financial reissued a “buy” rating on shares of Eagle Bulk Shipping in a report on Thursday, September 6th. ValuEngine cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Maxim Group raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and increased their target price for the company from $6.00 to $7.50 in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $7.17.

NASDAQ EGLE traded down $0.14 during trading hours on Friday, reaching $4.29. The company’s stock had a trading volume of 531,278 shares, compared to its average volume of 287,141. The stock has a market capitalization of $371.76 million, a price-to-earnings ratio of -10.20 and a beta of 1.73. Eagle Bulk Shipping has a 1-year low of $4.18 and a 1-year high of $6.14. The company has a current ratio of 2.76, a quick ratio of 2.48 and a debt-to-equity ratio of 0.64.

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Eagle Bulk Shipping by 278.0% during the first quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Eagle Bulk Shipping by 319.0% during the second 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 last quarter. Royal Bank of Canada raised its holdings in shares of Eagle Bulk Shipping by 57,096.6% during the first quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock valued at $164,000 after acquiring an additional 33,116 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Eagle Bulk Shipping during the third quarter valued at approximately $218,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Eagle Bulk Shipping by 162.6% in the second quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock valued at $232,000 after purchasing an additional 26,441 shares in the last quarter. 46.69% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Return on Investment (ROI)

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

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