FY2020 EPS Estimates for Eagle Bulk Shipping Inc. Increased by Analyst (NASDAQ:EGLE)

Share on StockTwits

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) – Equities research analysts at B. Riley increased their FY2020 earnings per share estimates for Eagle Bulk Shipping in a research note issued to investors on Thursday, January 23rd. B. Riley analyst L. Burke now forecasts that the shipping company will earn $0.61 per share for the year, up from their prior estimate of $0.60.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Wednesday, November 6th. The shipping company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). Eagle Bulk Shipping had a negative return on equity of 1.22% and a negative net margin of 1.31%. The business had revenue of $54.66 million during the quarter, compared to the consensus estimate of $55.95 million.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. ValuEngine lowered shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, BidaskClub lowered shares of Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.80.

Shares of NASDAQ:EGLE traded up $0.01 during trading hours on Friday, hitting $4.02. The stock had a trading volume of 1,547 shares, compared to its average volume of 269,826. The stock’s fifty day simple moving average is $4.41 and its 200 day simple moving average is $4.53. Eagle Bulk Shipping has a 1-year low of $3.79 and a 1-year high of $5.92. The firm has a market capitalization of $315.69 million, a price-to-earnings ratio of -81.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.22 and a current ratio of 1.39.

In related news, major shareholder Goldentree Asset Management Lp sold 14,398 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $4.68, for a total value of $67,382.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary Vogel sold 6,118 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.52, for a total transaction of $27,653.36. Following the completion of the transaction, the chief executive officer now directly owns 993,223 shares of the company’s stock, valued at approximately $4,489,367.96. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of EGLE. BlackRock Inc. boosted its stake in Eagle Bulk Shipping by 30.7% in the 2nd quarter. BlackRock Inc. now owns 3,323,264 shares of the shipping company’s stock worth $17,414,000 after purchasing an additional 780,881 shares during the period. Oaktree Capital Management LP boosted its stake in Eagle Bulk Shipping by 2.9% in the 2nd quarter. Oaktree Capital Management LP now owns 27,034,083 shares of the shipping company’s stock worth $141,658,000 after purchasing an additional 766,616 shares during the period. Relyea Zuckerberg Hanson LLC acquired a new position in Eagle Bulk Shipping in the 4th quarter worth approximately $2,079,000. Victory Capital Management Inc. boosted its stake in Eagle Bulk Shipping by 24.0% in the 2nd quarter. Victory Capital Management Inc. now owns 370,800 shares of the shipping company’s stock worth $1,943,000 after purchasing an additional 71,650 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its stake in Eagle Bulk Shipping by 45.8% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 102,176 shares of the shipping company’s stock worth $447,000 after purchasing an additional 32,100 shares during the period. 85.77% of the stock is owned by hedge funds and other institutional investors.

About Eagle Bulk Shipping

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.

Further Reading: What is FinTech?

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.