Analysts Anticipate Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to Announce -$0.02 Earnings Per Share

Brokerages expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will report earnings of ($0.02) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eagle Bulk Shipping’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.06). Eagle Bulk Shipping posted earnings per share of $0.04 in the same quarter last year, which suggests a negative year-over-year growth rate of 150%. The company is scheduled to report its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Eagle Bulk Shipping will report full year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.14) to ($0.02). For the next year, analysts expect that the firm will report earnings of $0.45 per share, with EPS estimates ranging from $0.06 to $0.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Monday, July 29th. The shipping company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $48.48 million during the quarter, compared to the consensus estimate of $49.96 million. Eagle Bulk Shipping had a net margin of 1.03% and a return on equity of 0.27%.

A number of analysts recently issued reports on the company. TheStreet cut Eagle Bulk Shipping from a “c” rating to a “d+” rating in a research note on Wednesday, August 14th. Zacks Investment Research raised Eagle Bulk Shipping from a “strong sell” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Tuesday, October 1st. Noble Financial reissued a “buy” rating and set a $6.00 target price on shares of Eagle Bulk Shipping in a research note on Wednesday, September 11th. BidaskClub cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.80.

In other news, Director Paul M. Jr. Leand purchased 59,300 shares of Eagle Bulk Shipping stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $4.17 per share, with a total value of $247,281.00. Following the transaction, the director now directly owns 189,658 shares in the company, valued at approximately $790,873.86. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary Vogel sold 11,090 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $4.52, for a total value of $50,126.80. Following the transaction, the chief executive officer now directly owns 1,054,620 shares of the company’s stock, valued at approximately $4,766,882.40. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,569,356 shares of company stock valued at $11,649,516. 4.10% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Aperio Group LLC acquired a new position in Eagle Bulk Shipping during the 2nd quarter worth approximately $42,000. RMB Capital Management LLC acquired a new position in Eagle Bulk Shipping during the 2nd quarter worth approximately $83,000. Paloma Partners Management Co acquired a new position in Eagle Bulk Shipping during the 2nd quarter worth approximately $98,000. D. E. Shaw & Co. Inc. acquired a new position in Eagle Bulk Shipping during the 2nd quarter worth approximately $104,000. Finally, Royal Bank of Canada boosted its position in Eagle Bulk Shipping by 13.6% during the 2nd quarter. Royal Bank of Canada now owns 41,337 shares of the shipping company’s stock worth $216,000 after acquiring an additional 4,955 shares during the last quarter. 85.33% of the stock is owned by hedge funds and other institutional investors.

Shares of EGLE stock traded up $0.01 on Friday, reaching $4.49. The company had a trading volume of 110,360 shares, compared to its average volume of 382,019. The company has a current ratio of 1.03, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66. The stock has a market cap of $331.05 million, a PE ratio of 24.94 and a beta of 1.24. The company has a 50-day moving average of $4.56 and a 200-day moving average of $4.86. Eagle Bulk Shipping has a 12 month low of $3.85 and a 12 month high of $5.92.

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 and Estimates for Eagle Bulk Shipping (NASDAQ:EGLE)

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