Eagle Bulk Shipping (EGLE) to Release Earnings on Tuesday

Eagle Bulk Shipping (NASDAQ:EGLE) will be releasing its earnings data after the market closes on Tuesday, November 6th. Analysts expect Eagle Bulk Shipping to post earnings of $0.03 per share for the quarter.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted 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). Eagle Bulk Shipping had a negative net margin of 8.00% and a negative return on equity of 1.79%. The company had revenue of $57.73 million for the quarter, compared to analyst estimates of $57.76 million. On average, analysts expect Eagle Bulk Shipping to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

EGLE stock opened at $5.07 on Friday. Eagle Bulk Shipping has a 12-month low of $4.18 and a 12-month high of $6.14. The company has a quick ratio of 2.48, a current ratio of 2.76 and a debt-to-equity ratio of 0.64.

An institutional investor recently raised its position in Eagle Bulk Shipping stock. Bank of New York Mellon Corp grew its stake in shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,017 shares of the shipping company’s stock after acquiring an additional 21,947 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Eagle Bulk Shipping worth $658,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.69% of the company’s stock.

A number of research firms have recently issued reports on EGLE. Maxim Group upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and lifted their price target for the company from $6.00 to $7.50 in a research report on Wednesday, July 25th. ValuEngine downgraded shares of Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 25th. BidaskClub downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Finally, Noble Financial reiterated a “buy” rating on shares of Eagle Bulk Shipping in a research report on Thursday, September 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $6.86.

Eagle Bulk Shipping Company Profile

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 for Eagle Bulk Shipping (NASDAQ:EGLE)

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