Equities analysts forecast that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will report earnings per share of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Eagle Bulk Shipping’s earnings, with estimates ranging from ($0.08) to ($0.06). Eagle Bulk Shipping reported earnings per share of $0.05 during the same quarter last year, which suggests a negative year-over-year growth rate of 240%. The business 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 year, analysts expect that the company will post earnings of $0.70 per share, with EPS estimates ranging from $0.54 to $0.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $51.48 million for the quarter, compared to analysts’ expectations of $47.72 million. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%.
EGLE stock traded down $0.03 during midday trading on Friday, reaching $5.19. 473,266 shares of the company’s stock traded hands, compared to its average volume of 272,806. The company has a market cap of $379.65 million, a P/E ratio of 28.83 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.30 and a quick ratio of 1.13. Eagle Bulk Shipping has a fifty-two week low of $3.85 and a fifty-two week high of $6.09. The stock’s 50-day simple moving average is $5.09.
In other news, major shareholder Oaktree Capital Group Holdings acquired 560,600 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were bought at an average price of $4.70 per share, for a total transaction of $2,634,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary Vogel sold 45,520 shares of Eagle Bulk Shipping stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $5.30, for a total transaction of $241,256.00. Following the sale, the chief executive officer now owns 1,147,032 shares in the company, valued at approximately $6,079,269.60. The disclosure for this sale can be found here. Over 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. Insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Eagle Bulk Shipping by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 187,576 shares of the shipping company’s stock valued at $864,000 after purchasing an additional 13,262 shares during the period. Geode Capital Management LLC raised its stake in shares of Eagle Bulk Shipping by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 752,393 shares of the shipping company’s stock valued at $3,468,000 after purchasing an additional 95,850 shares during the period. BlackRock Inc. raised its stake in shares of Eagle Bulk Shipping by 4.0% during the fourth quarter. BlackRock Inc. now owns 2,438,317 shares of the shipping company’s stock valued at $11,240,000 after purchasing an additional 93,472 shares during the period. Oaktree Capital Management LP raised its stake in shares of Eagle Bulk Shipping by 0.6% during the first quarter. Oaktree Capital Management LP now owns 26,267,467 shares of the shipping company’s stock valued at $122,143,000 after purchasing an additional 157,931 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Eagle Bulk Shipping by 13.4% during the fourth quarter. Northern Trust Corp now owns 551,591 shares of the shipping company’s stock valued at $2,543,000 after purchasing an additional 65,326 shares during the period. Institutional investors own 84.11% of the company’s stock.
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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