Eagle Bulk Shipping (EGLE) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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.

How to Become a New Pot Stock Millionaire

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.

A number of research firms have recently issued reports on EGLE. Maxim Group reiterated a “hold” rating and issued a $5.00 price objective on shares of Eagle Bulk Shipping in a report on Monday, March 5th. BidaskClub raised shares of Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a research note on Friday, February 9th. ValuEngine raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Finally, Noble Financial started coverage on shares of Eagle Bulk Shipping in a research report on Friday, January 12th. They issued a “buy” rating and a $6.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.75.

WARNING: This report was reported by BBNS and is the property of of BBNS. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://baseballnewssource.com/2018/03/30/eagle-bulk-shipping-egle-releases-earnings-results-beats-expectations-by-0-01-eps/1973316.html.

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.

Earnings History for Eagle Bulk Shipping (NASDAQ:EGLE)

Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Red Sox Tie Record for Best Start After 17 Games
Red Sox Tie Record for Best Start After 17 Games
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Rick Porcello’s Strong Start Gives Boost to Red Sox
Rick Porcello’s Strong Start Gives Boost to Red Sox
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Xander Bogaerts Goes on Red Sox DL
Xander Bogaerts Goes on Red Sox DL
Ohtani Goes Deep in Third Straight Game for Angels
Ohtani Goes Deep in Third Straight Game for Angels


Leave a Reply

 
© 2006-2018 BBNS.