Wall Street analysts expect Eagle Bulk Shipping Inc. (NASDAQ:EGLE) to post sales of $49.96 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Eagle Bulk Shipping’s earnings, with the lowest sales estimate coming in at $49.64 million and the highest estimate coming in at $50.27 million. Eagle Bulk Shipping posted sales of $57.73 million during the same quarter last year, which suggests a negative year over year growth rate of 13.5%. The business is scheduled to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Eagle Bulk Shipping will report full-year sales of $228.46 million for the current financial year, with estimates ranging from $226.39 million to $230.54 million. For the next fiscal year, analysts anticipate that the firm will post sales of $282.79 million, with estimates ranging from $272.57 million to $293.01 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Eagle Bulk Shipping.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Tuesday, May 7th. The shipping company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. Eagle Bulk Shipping had a return on equity of 2.25% and a net margin of 4.07%. The company had revenue of $51.48 million during the quarter, compared to analyst estimates of $47.72 million.

Several equities analysts recently weighed in on EGLE shares. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Finally, Maxim Group set a $7.00 target price on Eagle Bulk Shipping and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Eagle Bulk Shipping presently has a consensus rating of “Buy” and an average price target of $6.68.

In other news, CEO Gary Vogel sold 45,520 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $5.30, for a total value of $241,256.00. Following the transaction, the chief executive officer now directly owns 1,147,032 shares in the company, valued at $6,079,269.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings acquired 146,200 shares of the stock in a transaction dated Monday, June 3rd. The stock was acquired at an average price of $4.62 per share, for a total transaction of $675,444.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 734,100 shares of company stock worth $3,437,755 and sold 84,890 shares worth $463,262. 4.10% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Eagle Bulk Shipping by 42.7% in the fourth quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock valued at $317,000 after acquiring an additional 20,557 shares in the last quarter. BlackRock Inc. lifted its position in shares of Eagle Bulk Shipping by 4.0% in the fourth quarter. BlackRock Inc. now owns 2,438,317 shares of the shipping company’s stock valued at $11,240,000 after acquiring an additional 93,472 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Eagle Bulk Shipping by 7.6% in the fourth quarter. Bank of New York Mellon Corp now owns 187,576 shares of the shipping company’s stock valued at $864,000 after acquiring an additional 13,262 shares in the last quarter. Northern Trust Corp lifted its position in shares of Eagle Bulk Shipping by 13.4% in the fourth quarter. Northern Trust Corp now owns 551,591 shares of the shipping company’s stock valued at $2,543,000 after acquiring an additional 65,326 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Eagle Bulk Shipping by 27.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock valued at $7,231,000 after acquiring an additional 334,039 shares in the last quarter. Institutional investors and hedge funds own 84.11% of the company’s stock.

Shares of EGLE traded up $0.31 during trading hours on Monday, hitting $5.50. The stock had a trading volume of 219,926 shares, compared to its average volume of 308,535. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.30 and a quick ratio of 1.13. Eagle Bulk Shipping has a 12 month low of $3.85 and a 12 month high of $6.09. The company has a market cap of $379.65 million, a price-to-earnings ratio of 30.56 and a beta of 1.28. The firm has a fifty day moving average price of $5.12.

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.

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

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