EGLE Stock Recent News

Results fell short of expectations.

Eagle Bulk Shipping (EGLE) delivered earnings and revenue surprises of -15.87% and 6.30%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Among the companies specializing in the mid-sized vessel category, EGLE is the company with the largest fleet. The company has been able to hold 70% of their Q4 TCE per day fixed at very similar rate as in Q3.

EGLE may further ride immense tailwinds for TCE rate recovery moving forward, buoyed by China's reopening cadence and growth in demand for coal/grains by 2023. The company also persisted in its strategic vessel renewal and growth program since 2017, divesting older Supramaxes while acquiring modern Ultramaxes.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Eagle Bulk Shipping (EGLE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Eagle Bulk Shipping (EGLE) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Shipping rates have come down but aren't likely to head further lower. Global shipping volumes aren't going to fall off a cliff.

STAMFORD, Conn., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Eagle Bulk Shipping Inc. (NYSE: EGLE) (“Eagle Bulk”, “Eagle”, or the “Company”), one of the world's largest owner-operators within the midsize drybulk vessel segment, announced today that it will report its financial results for the fourth quarter ending December 31, 2022, after the close of stock market trading on March 2, 2023. Members of Eagle's senior management team will host a call at 8:00 a.m. ET on Friday, March 3, 2023 in order to discuss company results and provide an update on market fundamentals.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.