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Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Expected to Post Earnings of $3.96 Per Share


Analysts expect Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) to report $3.96 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Eagle Bulk Shipping’s earnings, with the highest EPS estimate coming in at $4.45 and the lowest estimate coming in at $3.44. Eagle Bulk Shipping posted earnings of $0.84 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 371.4%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Eagle Bulk Shipping will report full-year earnings of $16.26 per share for the current financial year, with EPS estimates ranging from $15.23 to $18.03. For the next fiscal year, analysts anticipate that the firm will report earnings of $15.13 per share, with EPS estimates ranging from $11.86 to $17.25. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last posted its quarterly earnings data on Thursday, March 3rd. The shipping company reported $4.28 EPS for the quarter, missing the Zacks’ consensus estimate of $5.58 by ($1.30). Eagle Bulk Shipping had a net margin of 31.10% and a return on equity of 34.61%. The company had revenue of $161.49 million for the quarter, compared to the consensus estimate of $152.49 million. During the same quarter last year, the company earned $0.01 earnings per share.

A number of analysts have weighed in on EGLE shares. TheStreet raised shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. StockNews.com cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley increased their target price on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, March 7th. Finally, Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, April 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $69.25.

NASDAQ EGLE traded down $0.42 during trading hours on Friday, reaching $64.73. 356,593 shares of the company traded hands, compared to its average volume of 419,681. Eagle Bulk Shipping has a 12 month low of $36.18 and a 12 month high of $72.24. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $882.27 million, a PE ratio of 5.44 and a beta of 1.31. The company has a 50 day moving average of $61.61 and a two-hundred day moving average of $49.69.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Tuesday, March 15th were issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 12.67%. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. Eagle Bulk Shipping’s dividend payout ratio (DPR) is 68.91%.

In other Eagle Bulk Shipping news, CEO Gary Vogel sold 29,441 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The shares were 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 of the company’s stock, valued at approximately $11,345,634.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Randee E. Day sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $60.49, for a total transaction of $60,490.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,441 shares of company stock worth $3,008,718. Corporate insiders own 4.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in EGLE. BlackRock Inc. boosted its position in shares of Eagle Bulk Shipping by 8.6% during the 3rd quarter. BlackRock Inc. now owns 705,937 shares of the shipping company’s stock valued at $35,594,000 after purchasing an additional 56,014 shares in the last quarter. Morgan Stanley increased its holdings in shares of Eagle Bulk Shipping by 30.6% in the third quarter. Morgan Stanley now owns 258,301 shares of the shipping company’s stock valued at $13,023,000 after buying an additional 60,492 shares in the last quarter. Manatuck Hill Partners LLC lifted its position in shares of Eagle Bulk Shipping by 273.0% during the 3rd quarter. Manatuck Hill Partners LLC now owns 111,898 shares of the shipping company’s stock valued at $5,642,000 after acquiring an additional 81,898 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Eagle Bulk Shipping by 36.9% during the 3rd quarter. Citadel Advisors LLC now owns 121,019 shares of the shipping company’s stock worth $6,102,000 after acquiring an additional 32,623 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Eagle Bulk Shipping by 27.0% during the 3rd quarter. Two Sigma Investments LP now owns 206,834 shares of the shipping company’s stock worth $10,429,000 after acquiring an additional 43,981 shares in the last quarter. 65.51% of the stock is currently owned by hedge funds and other institutional investors.

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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