Eagle Bulk Shipping Inc. (EGLE) Expected to Announce Quarterly Sales of $64.82 Million

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Brokerages predict that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will announce $64.82 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Eagle Bulk Shipping’s earnings. The highest sales estimate is $72.00 million and the lowest is $59.60 million. Eagle Bulk Shipping reported sales of $74.59 million during the same quarter last year, which indicates a negative year-over-year growth rate of 13.1%. The firm is scheduled to report its next earnings report on Monday, March 4th.

On average, analysts expect that Eagle Bulk Shipping will report full year sales of $237.40 million for the current fiscal year, with estimates ranging from $228.10 million to $248.00 million. For the next year, analysts anticipate that the business will post sales of $264.63 million, with estimates ranging from $248.47 million to $287.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings data on Tuesday, November 6th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $53.97 million during the quarter, compared to analyst estimates of $57.49 million. Eagle Bulk Shipping had a positive return on equity of 0.96% and a negative net margin of 3.52%.

Several equities research analysts have recently issued reports on EGLE shares. ValuEngine lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Zacks Investment Research lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday. Noble Financial reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a research note on Thursday, September 6th. Finally, BidaskClub raised Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $7.17.

Several hedge funds have recently modified their holdings of EGLE. Wells Fargo & Company MN lifted its stake in shares of Eagle Bulk Shipping by 278.0% during the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock worth $112,000 after acquiring an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Eagle Bulk Shipping by 319.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock worth $146,000 after acquiring an additional 20,514 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Eagle Bulk Shipping by 57,096.6% during the 1st quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock worth $164,000 after acquiring an additional 33,116 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Eagle Bulk Shipping during the 3rd quarter worth approximately $218,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Eagle Bulk Shipping by 162.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock worth $232,000 after acquiring an additional 26,441 shares during the last quarter. 46.69% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:EGLE traded down $0.14 during trading on Monday, hitting $4.29. The company had a trading volume of 531,278 shares, compared to its average volume of 287,141. The firm has a market capitalization of $371.76 million, a price-to-earnings ratio of -10.20 and a beta of 1.73. Eagle Bulk Shipping has a one year low of $4.18 and a one year high of $6.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48.

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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Earnings History and Estimates for Eagle Bulk Shipping (NASDAQ:EGLE)

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