Wall Street analysts forecast that Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) will report earnings per share of $4.46 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Eagle Bulk Shipping’s earnings, with the highest EPS estimate coming in at $5.04 and the lowest estimate coming in at $3.96. Eagle Bulk Shipping posted earnings per share of $2.63 in the same quarter last year, which would indicate a positive year over year growth rate of 69.6%. The firm is expected to report 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 fiscal year, with EPS estimates ranging from $17.52 to $18.15. For the next fiscal year, analysts anticipate that the company will post earnings of $16.01 per share, with EPS estimates ranging from $15.33 to $16.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Eagle Bulk Shipping.
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 analysts’ consensus estimates of $3.96 by $0.01. Eagle Bulk Shipping had a net margin of 33.43% and a return on equity of 40.41%. The firm had revenue of $140.77 million during the quarter, compared to the consensus estimate of $134.93 million. During the same period in the prior year, the firm earned $0.84 EPS.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Wednesday, May 11th. B. Riley raised their price objective 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. Jefferies Financial Group assumed coverage on shares of Eagle Bulk Shipping in a report on Wednesday, April 27th. They issued a “buy” rating for the company. StockNews.com raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Finally, TheStreet raised shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Eagle Bulk Shipping currently has an average rating of “Buy” and a consensus price target of $71.75.
Eagle Bulk Shipping stock opened at $76.10 on Friday. Eagle Bulk Shipping has a twelve month low of $36.18 and a twelve month high of $76.82. The firm has a 50 day moving average price of $66.29 and a 200-day moving average price of $54.53. The company has a market capitalization of $1.04 billion, a P/E ratio of 5.31 and a beta of 1.27. The company has a quick ratio of 1.16, a current ratio of 1.37 and a debt-to-equity ratio of 0.48.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 10.51%. The ex-dividend date of this dividend was Friday, May 13th. Eagle Bulk Shipping’s dividend payout ratio is presently 55.83%.
In other Eagle Bulk Shipping news, Director Randee E. Day sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $60.49, for a total value of $60,490.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary Vogel sold 29,441 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 167,686 shares in the company, valued at $11,345,634.76. The disclosure for this sale can be found here. Insiders sold a total of 45,441 shares of company stock worth $3,008,718 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Toroso Investments LLC purchased a new stake in shares of Eagle Bulk Shipping during the 1st quarter valued at $243,000. Quantbot Technologies LP raised its position in shares of Eagle Bulk Shipping by 1,846.2% during the 1st quarter. Quantbot Technologies LP now owns 11,677 shares of the shipping company’s stock valued at $795,000 after buying an additional 11,077 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Eagle Bulk Shipping during the 1st quarter valued at $576,000. Delphia USA Inc. purchased a new stake in shares of Eagle Bulk Shipping during the 1st quarter valued at $338,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Eagle Bulk Shipping during the 1st quarter valued at $670,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
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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