Eagle Bulk Shipping (NASDAQ:EGLE) issued its earnings results on Monday, March 5th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01, Yahoo Finance reports. Eagle Bulk Shipping had a negative return on equity of 6.04% and a negative net margin of 18.50%. The firm had revenue of $74.59 million for the quarter, compared to analysts’ expectations of $58.34 million.
EGLE stock traded up $0.17 during midday trading on Thursday, reaching $4.95. The company had a trading volume of 440,321 shares, compared to its average volume of 461,459. The company has a quick ratio of 2.96, a current ratio of 3.41 and a debt-to-equity ratio of 0.68. The company has a market cap of $362.53, a PE ratio of -7.77 and a beta of 2.83. Eagle Bulk Shipping has a 1-year low of $4.18 and a 1-year high of $5.90.
Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Eagle Bulk Shipping by 5,708.4% during the second quarter. The Manufacturers Life Insurance Company now owns 34,386 shares of the shipping company’s stock worth $162,000 after acquiring an additional 33,794 shares in the last quarter. California State Teachers Retirement System acquired a new position in Eagle Bulk Shipping during the second quarter worth about $322,000. Finally, State Street Corp acquired a new position in Eagle Bulk Shipping during the second quarter worth about $1,905,000. 28.92% of the stock is owned by hedge funds and other institutional investors.
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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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