Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) will issue its quarterly earnings data after the market closes on Thursday, August 4th. Analysts expect the company to announce earnings of $4.17 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last released its earnings results on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.01. The business had revenue of $140.77 million for 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. On average, analysts expect Eagle Bulk Shipping to post $18 EPS for the current fiscal year and $15 EPS for the next fiscal year.
Eagle Bulk Shipping Stock Performance
NASDAQ EGLE opened at $53.36 on Thursday. The company has a market cap of $730.66 million, a PE ratio of 3.72 and a beta of 1.40. The stock’s 50 day simple moving average is $57.54 and its 200-day simple moving average is $57.57. Eagle Bulk Shipping has a 1-year low of $36.21 and a 1-year high of $78.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16.
Eagle Bulk Shipping Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Investors of record on Monday, May 16th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $8.00 annualized dividend and a dividend yield of 14.99%. Eagle Bulk Shipping’s dividend payout ratio is presently 55.83%.
Analyst Upgrades and Downgrades
Several research firms recently commented on EGLE. Jefferies Financial Group began coverage on Eagle Bulk Shipping in a report on Wednesday, July 20th. They issued a “buy” rating and a $64.00 price target for the company. HC Wainwright increased their price target on Eagle Bulk Shipping from $80.00 to $90.00 in a report on Monday, May 9th. Clarkson Capital reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a report on Tuesday, June 14th. Finally, StockNews.com raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Eagle Bulk Shipping currently has an average rating of “Buy” and a consensus price target of $71.25.
Insiders Place Their Bets
In other news, CFO Costanzo Frank De sold 3,022 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $78.06, for a total transaction of $235,897.32. Following the completion of the transaction, the chief financial officer now directly owns 52,323 shares in the company, valued at $4,084,333.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of EGLE. Worth Asset Management LLC purchased a new position in Eagle Bulk Shipping in the first quarter valued at $35,000. Atria Wealth Solutions Inc. purchased a new position in Eagle Bulk Shipping in the first quarter valued at $225,000. Toroso Investments LLC purchased a new position in Eagle Bulk Shipping in the first quarter valued at $243,000. Delphia USA Inc. purchased a new position in Eagle Bulk Shipping in the first quarter valued at $338,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Eagle Bulk Shipping in the first quarter valued at $363,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Eagle Bulk Shipping Company Profile
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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