Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Expected to Post Earnings of -$0.14 Per Share

Wall Street brokerages predict that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will report earnings per share (EPS) of ($0.14) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings, with estimates ranging from ($0.21) to ($0.03). Eagle Bulk Shipping posted earnings per share of ($0.08) during the same quarter last year, which would suggest a negative year-over-year growth rate of 75%. The company is scheduled to issue its next earnings results on Monday, August 3rd.

According to Zacks, analysts expect that Eagle Bulk Shipping will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.60) to $0.06. For the next year, analysts expect that the company will post earnings of $0.01 per share, with EPS estimates ranging from ($0.13) to $0.15. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Thursday, May 7th. The shipping company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $47.81 million for the quarter, compared to the consensus estimate of $47.15 million. Eagle Bulk Shipping had a negative return on equity of 5.01% and a negative net margin of 8.73%.

Several brokerages recently commented on EGLE. DNB Markets cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating and set a $4.10 price target for the company. in a research note on Monday, March 9th. Noble Financial reissued a “buy” rating and issued a $4.80 price target on shares of Eagle Bulk Shipping in a research note on Monday, May 11th. ValuEngine raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. B. Riley lowered their price target on Eagle Bulk Shipping from $6.00 to $4.50 and set a “buy” rating for the company in a research note on Friday, April 17th. Finally, Evercore ISI reissued an “outperform” rating and issued a $3.00 price target on shares of Eagle Bulk Shipping in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Eagle Bulk Shipping during the fourth quarter worth approximately $46,000. Nisa Investment Advisors LLC bought a new stake in Eagle Bulk Shipping during the first quarter worth approximately $25,000. Alliancebernstein L.P. boosted its position in shares of Eagle Bulk Shipping by 51.3% in the first quarter. Alliancebernstein L.P. now owns 40,700 shares of the shipping company’s stock valued at $75,000 after acquiring an additional 13,800 shares during the period. Barclays PLC boosted its position in shares of Eagle Bulk Shipping by 80.6% in the fourth quarter. Barclays PLC now owns 45,123 shares of the shipping company’s stock valued at $208,000 after acquiring an additional 20,138 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of Eagle Bulk Shipping by 9,140.8% in the fourth quarter. Panagora Asset Management Inc. now owns 62,283 shares of the shipping company’s stock valued at $287,000 after acquiring an additional 61,609 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ EGLE traded down $0.23 during trading hours on Friday, hitting $2.14. The stock had a trading volume of 1,012,175 shares, compared to its average volume of 766,769. The company has a market capitalization of $181.90 million, a P/E ratio of -6.11 and a beta of 1.20. The firm’s 50-day moving average price is $2.04 and its two-hundred day moving average price is $2.82. Eagle Bulk Shipping has a 52 week low of $1.27 and a 52 week high of $5.74. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.35.

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.

Featured Story: Green Investing

Get a free copy of the Zacks research report on Eagle Bulk Shipping (EGLE)

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.