Eagle Bulk Shipping Inc.EGLE is a U.S. based owner of Handymax dry bulk vessels that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EGLE's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Eagle Bulk could be a solid choice for investors.
Current Quarter Estimates for EGLE
In the past 30 days, two estimates have gone higher for Eagle Bulk while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 20 cents a share 30 days ago, to a loss of 13 cents today, a move of 35%.
Current Year Estimates for EGLE
Meanwhile, Eagle Bulk's current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 79 cents per share 30 days ago to a loss of 58 cents per share today, an increase of 26.6%.
Eagle Bulk Shipping Inc. Price and Consensus
The stock has also started to move higher lately, adding 6.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report