Equities research analysts predict that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will report $61.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Eagle Bulk Shipping’s earnings, with the highest sales estimate coming in at $63.21 million and the lowest estimate coming in at $59.83 million. Eagle Bulk Shipping reported sales of $61.97 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The business is expected to issue its next earnings results on Tuesday, March 3rd.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full year sales of $216.33 million for the current year, with estimates ranging from $214.46 million to $217.84 million. For the next fiscal year, analysts forecast that the business will post sales of $296.91 million, with estimates ranging from $288.43 million to $305.21 million. Zacks’ sales averages 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) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). Eagle Bulk Shipping had a negative net margin of 1.31% and a negative return on equity of 1.22%. The firm had revenue of $54.66 million for the quarter, compared to analysts’ expectations of $55.95 million.
Shares of NASDAQ:EGLE traded down $0.03 during trading on Monday, reaching $4.32. 1,875 shares of the stock traded hands, compared to its average volume of 270,317. The stock has a 50-day moving average of $4.48 and a two-hundred day moving average of $4.57. Eagle Bulk Shipping has a 52-week low of $3.79 and a 52-week high of $5.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.22 and a current ratio of 1.39. The stock has a market cap of $333.34 million, a P/E ratio of 24.17 and a beta of 1.49.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 6,118 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.52, for a total value of $27,653.36. Following the transaction, the chief executive officer now directly owns 993,223 shares in the company, valued at $4,489,367.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $4.68, for a total transaction of $67,382.64. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Relyea Zuckerberg Hanson LLC bought a new stake in shares of Eagle Bulk Shipping during the 4th quarter valued at $2,079,000. Millennium Management LLC raised its position in shares of Eagle Bulk Shipping by 9.3% during the 3rd quarter. Millennium Management LLC now owns 238,583 shares of the shipping company’s stock valued at $1,043,000 after purchasing an additional 20,366 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Eagle Bulk Shipping during the 3rd quarter valued at $65,000. Monarch Partners Asset Management LLC raised its position in shares of Eagle Bulk Shipping by 45.8% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 102,176 shares of the shipping company’s stock valued at $447,000 after purchasing an additional 32,100 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Eagle Bulk Shipping by 6.2% during the 3rd quarter. California Public Employees Retirement System now owns 259,058 shares of the shipping company’s stock valued at $1,133,000 after purchasing an additional 15,135 shares during the period. Institutional investors and hedge funds own 85.18% of the company’s stock.
Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.
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