Wall Street analysts predict that Eagle Bulk Shipping Inc (NASDAQ:EGLE) will post earnings per share of ($0.13) for the current quarter, Zacks reports. Two analysts have made estimates for Eagle Bulk Shipping’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.14). Eagle Bulk Shipping reported earnings per share of ($9.98) in the same quarter last year, which indicates a positive year-over-year growth rate of 98.7%. The company is expected to issue its next earnings report on Monday, August 14th.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full year earnings of ($0.58) per share for the current financial year, with EPS estimates ranging from ($0.71) to ($0.46). For the next financial year, analysts forecast that the firm will post earnings of ($0.24) per share, with EPS estimates ranging from ($0.48) to ($0.01). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Monday, May 8th. The shipping company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.05. The firm had revenue of $45.86 million for the quarter, compared to analyst estimates of $31.30 million. Eagle Bulk Shipping had a negative return on equity of 29.84% and a negative net margin of 148.42%.
Several research analysts have recently commented on the stock. Seaport Global Securities reaffirmed a “buy” rating and issued a $7.00 price target on shares of Eagle Bulk Shipping in a report on Thursday, March 9th. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Friday, March 24th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in Eagle Bulk Shipping during the first quarter worth about $569,000. Horseman Capital Management Ltd purchased a new position in Eagle Bulk Shipping during the first quarter worth about $690,000. Airain ltd purchased a new position in Eagle Bulk Shipping during the first quarter worth about $828,000. Laurion Capital Management LP purchased a new position in Eagle Bulk Shipping during the first quarter worth about $494,000. Finally, Segantii Capital Management Ltd raised its position in Eagle Bulk Shipping by 985.2% in the first quarter. Segantii Capital Management Ltd now owns 43,407 shares of the shipping company’s stock worth $247,000 after buying an additional 39,407 shares during the last quarter. 12.19% of the stock is owned by hedge funds and other institutional investors.
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Shares of Eagle Bulk Shipping (EGLE) traded up 3.52% during midday trading on Tuesday, hitting $5.00. 240,606 shares of the stock traded hands. The firm has a 50-day moving average price of $4.81 and a 200 day moving average price of $5.58. Eagle Bulk Shipping has a one year low of $4.06 and a one year high of $12.45.
About Eagle Bulk Shipping
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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