Brokerages expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) to report sales of $147.39 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Eagle Bulk Shipping’s earnings. The highest sales estimate is $160.80 million and the lowest is $133.73 million. Eagle Bulk Shipping posted sales of $105.33 million during the same quarter last year, which suggests a positive year over year growth rate of 39.9%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Eagle Bulk Shipping will report full-year sales of $574.07 million for the current fiscal year, with estimates ranging from $521.57 million to $607.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $532.94 million, with estimates ranging from $493.15 million to $582.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow 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 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.01. 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 firm posted $0.84 EPS.
EGLE has been the topic of several recent research reports. B. Riley raised their price target on Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, March 7th. Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, May 11th. StockNews.com upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Jefferies Financial Group initiated coverage on Eagle Bulk Shipping in a report on Wednesday, April 27th. They issued a “buy” rating for the company. Finally, TheStreet upgraded Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.75.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $63.75, for a total transaction of $956,250.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Randee E. Day sold 1,000 shares of the company’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 45,441 shares of company stock valued at $3,008,718. Corporate insiders own 4.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of EGLE. Edmond DE Rothschild Holding S.A. bought a new position in Eagle Bulk Shipping in the 1st quarter valued at approximately $31,000. Worth Asset Management LLC bought a new position in Eagle Bulk Shipping in the 1st quarter worth $35,000. Fifth Third Bancorp bought a new position in Eagle Bulk Shipping in the 1st quarter worth $51,000. Citigroup Inc. raised its holdings in Eagle Bulk Shipping by 161.8% in the 3rd quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock worth $54,000 after purchasing an additional 665 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in Eagle Bulk Shipping in the 1st quarter worth $69,000. Institutional investors own 72.13% of the company’s stock.
NASDAQ EGLE opened at $67.00 on Tuesday. The firm has a market cap of $917.23 million, a PE ratio of 4.68 and a beta of 1.29. Eagle Bulk Shipping has a one year low of $36.18 and a one year high of $72.24. The stock’s 50 day simple moving average is $64.27 and its 200 day simple moving average is $51.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Investors of record on Monday, May 16th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 11.94%. The ex-dividend date of this dividend is Friday, May 13th. Eagle Bulk Shipping’s payout ratio is 55.83%.
Eagle Bulk Shipping Company Profile (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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