Zacks: Brokerages Expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Will Post Earnings of $4.46 Per Share
Equities analysts expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) will post earnings per share (EPS) of $4.46 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Eagle Bulk Shipping’s earnings, with the lowest EPS estimate coming in at $3.96 and the highest estimate coming in at $5.04. Eagle Bulk Shipping posted earnings per share of $2.63 in the same quarter last year, which suggests a positive year over year growth rate of 69.6%. The company is scheduled to issue 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 year, with EPS estimates ranging from $17.52 to $18.15. For the next year, analysts expect that the firm will report earnings of $16.01 per share, with EPS estimates ranging from $15.33 to $16.62. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Eagle Bulk Shipping.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last issued its earnings results on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, topping 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%. During the same quarter in the prior year, the business earned $0.84 EPS.
A number of brokerages recently weighed in on EGLE. StockNews.com upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. TheStreet raised shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research report on Friday, March 4th. B. Riley lifted their price objective on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, March 7th. HC Wainwright lifted their price objective on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research report on Monday, May 9th. Finally, Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $71.75.
In related news, CEO Gary Vogel sold 29,441 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 167,686 shares in the company, valued at approximately $11,345,634.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Randee E. Day sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were 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 three months, insiders sold 45,441 shares of company stock valued at $3,008,718. 4.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGLE. BlackRock Inc. lifted its holdings in Eagle Bulk Shipping by 8.6% during the 3rd quarter. BlackRock Inc. now owns 705,937 shares of the shipping company’s stock worth $35,594,000 after buying an additional 56,014 shares during the period. Morgan Stanley lifted its holdings in Eagle Bulk Shipping by 30.6% during the 3rd quarter. Morgan Stanley now owns 258,301 shares of the shipping company’s stock worth $13,023,000 after buying an additional 60,492 shares during the period. Manatuck Hill Partners LLC lifted its holdings in 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 worth $5,642,000 after buying an additional 81,898 shares during the period. Citadel Advisors LLC lifted its holdings in 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 buying an additional 32,623 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in 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 buying an additional 43,981 shares during the period. 72.13% of the stock is currently owned by institutional investors.
Shares of EGLE opened at $63.78 on Friday. The company has a market cap of $873.15 million, a price-to-earnings ratio of 4.45 and a beta of 1.29. Eagle Bulk Shipping has a 1-year low of $36.18 and a 1-year high of $72.24. The company’s fifty day simple moving average is $64.22 and its 200 day simple moving average is $51.44. The company has a current ratio of 1.37, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Monday, May 16th will be given a $2.00 dividend. The ex-dividend date is Friday, May 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 12.54%. Eagle Bulk Shipping’s payout ratio is presently 57.22%.
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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