Equities analysts forecast that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will post earnings of $0.13 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Eagle Bulk Shipping’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.09. Eagle Bulk Shipping reported earnings of ($0.02) per share during the same quarter last year, which would suggest 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 financial year, with EPS estimates ranging from $0.17 to $0.32. For the next fiscal year, analysts forecast that the business will report earnings of $0.55 per share, with EPS estimates ranging from $0.19 to $0.84. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Eagle Bulk Shipping.

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

EGLE has been the subject of several recent analyst reports. BidaskClub cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Friday, July 13th. Zacks Investment Research lowered shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Maxim Group raised shares of 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 research note on Wednesday, July 25th. ValuEngine raised shares of Eagle Bulk Shipping from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, Noble Financial set a $6.00 target price on shares of Eagle Bulk Shipping and gave the company a “buy” rating in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $7.17.

A number of hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new stake in Eagle Bulk Shipping during the third quarter valued at approximately $218,000. Bank of New York Mellon Corp lifted its stake in Eagle Bulk Shipping by 44.0% during the third quarter. Bank of New York Mellon Corp now owns 174,314 shares of the shipping company’s stock valued at $980,000 after purchasing an additional 53,297 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Eagle Bulk Shipping by 14.0% during the third quarter. Victory Capital Management Inc. now owns 245,900 shares of the shipping company’s stock valued at $1,382,000 after purchasing an additional 30,200 shares during the last quarter. Northern Trust Corp lifted its stake in Eagle Bulk Shipping by 22.8% during the second quarter. Northern Trust Corp now owns 396,026 shares of the shipping company’s stock valued at $2,155,000 after purchasing an additional 73,572 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in 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 purchasing an additional 20,514 shares during the last quarter. 46.69% of the stock is owned by institutional investors and hedge funds.

Shares of Eagle Bulk Shipping stock traded down $0.14 on Friday, hitting $4.29. The company had a trading volume of 531,278 shares, compared to its average volume of 287,141. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48. The stock has a market capitalization of $371.76 million, a PE ratio of -10.20 and a beta of 1.73. Eagle Bulk Shipping has a 52 week low of $4.18 and a 52 week high of $6.14.

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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