Equities analysts expect that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) will announce ($0.05) earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Eagle Bulk Shipping’s earnings, with estimates ranging from ($0.13) to $0.03. Eagle Bulk Shipping posted earnings of ($0.52) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 90.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Eagle Bulk Shipping will report full-year earnings of ($0.34) per share for the current year, with EPS estimates ranging from ($0.54) to ($0.13). For the next year, analysts expect that the company will report earnings of ($0.17) per share, with EPS estimates ranging from ($0.33) to ($0.01). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Eagle Bulk Shipping.
A number of brokerages have recently issued reports on EGLE. Zacks Investment Research cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Friday, June 9th. ValuEngine upgraded Eagle Bulk Shipping from a “strong sell” rating to a “sell” rating in a report on Thursday. Finally, BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th.
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Shares of Eagle Bulk Shipping (EGLE) traded up 0.45% during mid-day trading on Friday, hitting $4.42. 217,824 shares of the stock traded hands. The stock has a 50 day moving average price of $4.51 and a 200-day moving average price of $5.09. Eagle Bulk Shipping has a one year low of $4.06 and a one year high of $12.45.
Institutional investors have recently added to or reduced their stakes in the company. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its position in Eagle Bulk Shipping by 60.0% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 160,000 shares of the shipping company’s stock worth $757,000 after buying an additional 60,000 shares in the last quarter. Airain ltd bought a new position in Eagle Bulk Shipping during the first quarter worth $828,000. Weiss Multi Strategy Advisers LLC bought a new position in Eagle Bulk Shipping during the first quarter worth $172,000. BlueCrest Capital Management Ltd boosted its position in Eagle Bulk Shipping by 447.0% in the first quarter. BlueCrest Capital Management Ltd now owns 54,700 shares of the shipping company’s stock worth $311,000 after buying an additional 44,700 shares in the last quarter. Finally, Raynor Geoffrey boosted its position in Eagle Bulk Shipping by 3.2% in the first quarter. Raynor Geoffrey now owns 763,198 shares of the shipping company’s stock worth $3,912,000 after buying an additional 23,468 shares in the last quarter. Hedge funds and other institutional investors own 13.96% of the company’s stock.
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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