Wall Street brokerages expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to post earnings per share of $0.06 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Eagle Bulk Shipping’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.16. Eagle Bulk Shipping posted earnings per share of ($0.15) in the same quarter last year, which would suggest a positive year over year growth rate of 140%. The company is scheduled to report its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Eagle Bulk Shipping will report full year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.26. For the next year, analysts anticipate that the firm will report earnings of $0.67 per share, with EPS estimates ranging from $0.19 to $1.13. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. The business had revenue of $57.73 million for the quarter, compared to analyst estimates of $57.76 million.

A number of research analysts have issued reports on the stock. Maxim Group upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and increased their target price for the stock from $6.00 to $7.50 in a research report on Wednesday, July 25th. BidaskClub lowered shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine upgraded shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Finally, Morgan Stanley assumed coverage on shares of Eagle Bulk Shipping in a research report on Monday, June 18th. They set an “equal weight” rating and a $6.50 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.58.

Shares of NASDAQ:EGLE traded up $0.01 on Wednesday, reaching $5.60. 405,300 shares of the company’s stock were exchanged, compared to its average volume of 371,127. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $6.14. The firm has a market cap of $354.96 million, a PE ratio of -13.33 and a beta of 2.23. The company has a quick ratio of 2.48, a current ratio of 2.76 and a debt-to-equity ratio of 0.64.

Several hedge funds and other institutional investors have recently bought and sold shares of EGLE. Millennium Management LLC boosted its position in shares of Eagle Bulk Shipping by 612.6% during the 1st quarter. Millennium Management LLC now owns 1,041,454 shares of the shipping company’s stock worth $5,155,000 after acquiring an additional 895,297 shares in the last quarter. Signia Capital Management LLC acquired a new stake in shares of Eagle Bulk Shipping during the 2nd quarter worth approximately $3,544,000. BlackRock Inc. boosted its position in shares of Eagle Bulk Shipping by 36.9% during the 2nd quarter. BlackRock Inc. now owns 2,341,425 shares of the shipping company’s stock worth $12,739,000 after acquiring an additional 631,400 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Eagle Bulk Shipping by 101.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,226,284 shares of the shipping company’s stock worth $6,671,000 after acquiring an additional 618,884 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Eagle Bulk Shipping by 98.8% during the 2nd quarter. Royce & Associates LP now owns 1,006,004 shares of the shipping company’s stock worth $5,473,000 after acquiring an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.

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Earnings History and Estimates for Eagle Bulk Shipping (NASDAQ:EGLE)

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