Wall Street brokerages expect Eagle Bulk Shipping Inc (NASDAQ:EGLE) to post $58.34 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings, with the highest sales estimate coming in at $72.11 million and the lowest estimate coming in at $45.90 million. Eagle Bulk Shipping reported sales of $41.84 million in the same quarter last year, which indicates a positive year-over-year growth rate of 39.4%. The business is expected to report its next quarterly earnings report on Thursday, March 29th.

According to Zacks, analysts expect that Eagle Bulk Shipping will report full-year sales of $58.34 million for the current year, with estimates ranging from $163.90 million to $234.30 million. For the next fiscal year, analysts anticipate that the business will report sales of $227.27 million per share, with estimates ranging from $151.60 million to $286.33 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Eagle Bulk Shipping.

Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Deutsche Bank assumed coverage on shares of Eagle Bulk Shipping in a report on Thursday, January 25th. They issued a “buy” rating and a $7.00 price target on the stock. Noble Financial assumed coverage on shares of Eagle Bulk Shipping in a report on Friday, January 12th. They issued a “buy” rating and a $6.00 price target on the stock. ValuEngine cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, Maxim Group set a $5.00 target price on shares of Eagle Bulk Shipping and gave the stock a “hold” rating in a report on Sunday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $6.00.

Several large investors have recently modified their holdings of EGLE. Neuberger Berman Group LLC acquired a new stake in shares of Eagle Bulk Shipping in the 3rd quarter worth about $13,609,000. Mangrove Partners increased its holdings in shares of Eagle Bulk Shipping by 1,426.5% in the 3rd quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock worth $10,771,000 after acquiring an additional 2,222,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Eagle Bulk Shipping by 175.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,575,759 shares of the shipping company’s stock worth $7,453,000 after acquiring an additional 1,003,873 shares during the period. State Street Corp acquired a new stake in shares of Eagle Bulk Shipping in the 2nd quarter worth about $1,905,000. Finally, Northern Trust Corp acquired a new stake in shares of Eagle Bulk Shipping in the 2nd quarter worth about $1,558,000. 26.26% of the stock is currently owned by institutional investors.

Shares of Eagle Bulk Shipping (NASDAQ EGLE) opened at $4.71 on Tuesday. The stock has a market cap of $335.69, a price-to-earnings ratio of -1.35 and a beta of 2.36. The company has a quick ratio of 3.75, a current ratio of 4.25 and a debt-to-equity ratio of 0.66. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $5.92.

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About Eagle Bulk Shipping

Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.

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