Wall Street analysts expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will announce earnings per share (EPS) of ($0.13) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.22). The company is scheduled to report its next quarterly earnings results on Wednesday, May 8th.
On average, analysts expect that Eagle Bulk Shipping will report full-year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.55) to $0.26. For the next financial year, analysts anticipate that the business will report earnings of $0.51 per share, with EPS estimates ranging from ($0.04) to $1.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Tuesday, March 5th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Eagle Bulk Shipping had a return on equity of 2.67% and a net margin of 4.06%. The business had revenue of $61.97 million during the quarter, compared to the consensus estimate of $61.14 million.
Eagle Bulk Shipping stock traded down $0.03 during trading on Friday, hitting $5.11. 170,510 shares of the company were exchanged, compared to its average volume of 336,364. Eagle Bulk Shipping has a 52 week low of $3.85 and a 52 week high of $6.14. The company has a market capitalization of $373.22 million, a P/E ratio of 28.39 and a beta of 1.14. The company has a current ratio of 1.88, a quick ratio of 1.62 and a debt-to-equity ratio of 0.63.
In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp acquired 81,400 shares of Eagle Bulk Shipping stock in a transaction on Friday, January 25th. The stock was purchased at an average price of $4.47 per share, for a total transaction of $363,858.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Group Holdings acquired 32,516 shares of Eagle Bulk Shipping stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of $4.69 per share, with a total value of $152,500.04. The disclosure for this purchase can be found here. Insiders acquired a total of 1,816,011 shares of company stock valued at $8,068,641 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.
A number of large investors have recently made changes to their positions in EGLE. Sippican Capital Advisors grew its stake in Eagle Bulk Shipping by 17.1% in the 4th quarter. Sippican Capital Advisors now owns 17,550 shares of the shipping company’s stock valued at $81,000 after purchasing an additional 2,560 shares during the period. Meeder Asset Management Inc. grew its stake in Eagle Bulk Shipping by 69.9% in the 4th quarter. Meeder Asset Management Inc. now owns 20,318 shares of the shipping company’s stock valued at $94,000 after purchasing an additional 8,361 shares during the period. Macquarie Group Ltd. bought a new position in Eagle Bulk Shipping in the 3rd quarter valued at $109,000. Paloma Partners Management Co bought a new position in Eagle Bulk Shipping in the 4th quarter valued at $153,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Eagle Bulk Shipping in the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 81.56% of the company’s stock.
About Eagle Bulk Shipping
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.
Read More: How is inflation measured?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.