Brokerages expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) will report earnings per share (EPS) of $4.46 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Eagle Bulk Shipping’s earnings. The lowest EPS estimate is $3.96 and the highest is $5.04. Eagle Bulk Shipping posted earnings per share of $2.63 during the same quarter last year, which would indicate a positive year-over-year growth rate of 69.6%. The firm is expected to announce its next earnings results on Monday, January 1st.
On average, analysts expect that Eagle Bulk Shipping will report full-year earnings of $17.90 per share for the current financial year, with EPS estimates ranging from $17.52 to $18.15. For the next fiscal year, analysts expect that the business will post earnings of $16.01 per share, with EPS estimates ranging from $15.33 to $16.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.01. The company had revenue of $140.77 million during the quarter, compared to the consensus estimate of $134.93 million. Eagle Bulk Shipping had a return on equity of 40.41% and a net margin of 33.43%. During the same quarter last year, the business posted $0.84 earnings per share.
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Several equities analysts have weighed in on EGLE shares. StockNews.com raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. B. Riley lifted their price objective on Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, March 7th. TheStreet raised Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research report on Friday, March 4th. Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, May 11th. Finally, Jefferies Financial Group assumed coverage on Eagle Bulk Shipping in a research report on Wednesday, April 27th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $71.75.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 29,441 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $67.66, for a total transaction of $1,991,978.06. Following the transaction, the chief executive officer now owns 167,686 shares in the company, valued at $11,345,634.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Randee E. Day sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $60.49, for a total value of $60,490.00. The disclosure for this sale can be found here. Insiders sold 45,441 shares of company stock worth $3,008,718 in the last quarter. 2.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of EGLE. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Eagle Bulk Shipping during the first quarter worth about $31,000. Worth Asset Management LLC purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $35,000. Fifth Third Bancorp purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $51,000. Citigroup Inc. increased its position in shares of Eagle Bulk Shipping by 161.8% during the third quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock worth $54,000 after acquiring an additional 665 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $69,000. Institutional investors own 72.13% of the company’s stock.
Eagle Bulk Shipping stock opened at $76.10 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.16 and a current ratio of 1.37. The stock has a fifty day moving average of $66.29 and a two-hundred day moving average of $54.53. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.31 and a beta of 1.27. Eagle Bulk Shipping has a fifty-two week low of $36.18 and a fifty-two week high of $76.82.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Monday, May 16th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date was Friday, May 13th. Eagle Bulk Shipping’s payout ratio is currently 55.83%.
About Eagle Bulk Shipping (Get Rating)
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.
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