NasdaqGS:EGLE

Stock Analysis Report

Executive Summary

Eagle Bulk Shipping Inc., through its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide.

Rewards

Trading at 56.3% below its fair value

Earnings are forecast to grow 119.73% per year

Earnings have grown 54.5% per year over the past 5 years

Risk Analysis

Has less than 1 year of cash runway



Snowflake Analysis

Reasonable growth potential and slightly overvalued.


Similar Companies

Share Price & News

How has Eagle Bulk Shipping's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EGLE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.3%

EGLE

1.2%

US Shipping

0.3%

US Market


1 Year Return

-4.1%

EGLE

11.0%

US Shipping

18.5%

US Market

Return vs Industry: EGLE underperformed the US Shipping industry which returned 11% over the past year.

Return vs Market: EGLE underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

EGLEIndustryMarket
7 Day-5.3%1.2%0.3%
30 Day9.6%3.5%1.5%
90 Day-9.0%5.9%5.7%
1 Year-4.1%-4.1%13.4%11.0%21.1%18.5%
3 Year-22.4%-22.4%11.6%5.6%45.9%36.4%
5 Year-98.4%-98.4%-45.8%-51.0%71.4%52.5%

Price Volatility Vs. Market

How volatile is Eagle Bulk Shipping's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Eagle Bulk Shipping undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EGLE ($4.44) is trading below our estimate of fair value ($10.17)

Significantly Below Fair Value: EGLE is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EGLE is unprofitable, so we can't compare its PE Ratio to the Shipping industry average.

PE vs Market: EGLE is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EGLE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EGLE is overvalued based on its PB Ratio (0.6x) compared to the US Shipping industry average (0.5x).


Next Steps

Future Growth

How is Eagle Bulk Shipping forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

119.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EGLE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: EGLE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: EGLE's is expected to become profitable in the next 3 years.

Revenue vs Market: EGLE's revenue (7.8% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: EGLE's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EGLE's Return on Equity is forecast to be low in 3 years time (7.1%).


Next Steps

Past Performance

How has Eagle Bulk Shipping performed over the past 5 years?

54.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EGLE is currently unprofitable.

Growing Profit Margin: EGLE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: EGLE is unprofitable, but has reduced losses over the past 5 years at a rate of 54.5% per year.

Accelerating Growth: Unable to compare EGLE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: EGLE is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-48.2%).


Return on Equity

High ROE: EGLE has a negative Return on Equity (-0.82%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Eagle Bulk Shipping's financial position?


Financial Position Analysis

Short Term Liabilities: EGLE's short term assets ($112.2M) exceed its short term liabilities ($80.5M).

Long Term Liabilities: EGLE's short term assets ($112.2M) do not cover its long term liabilities ($398.1M).


Debt to Equity History and Analysis

Debt Level: EGLE's debt to equity ratio (85.4%) is considered high.

Reducing Debt: EGLE's debt to equity ratio has reduced from 286.4% to 85.4% over the past 5 years.


Balance Sheet

Inventory Level: EGLE has a high level of physical assets or inventory.

Debt Coverage by Assets: EGLE's debt is not covered by short term assets (assets are 0.3x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: EGLE has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if EGLE has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Eagle Bulk Shipping's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage3.7%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate EGLE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate EGLE's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EGLE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if EGLE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EGLE's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Eagle Bulk Shipping's salary, the management and board of directors tenure and is there insider trading?

3.9yrs

Average management tenure


CEO

Gary Vogel (53yo)

4.3yrs

Tenure

US$3,528,264

Compensation

Mr. Gary S. Vogel has been Chief Executive Officer at Eagle Bulk Shipping Inc. since September 1, 2015. Mr. Vogel has a long career in the dry bulk shipping market. He has more than 25 years of experience  ...


CEO Compensation Analysis

Compensation vs Market: Gary's total compensation ($USD3.53M) is above average for companies of similar size in the US market ($USD1.71M).

Compensation vs Earnings: Gary's compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.9yrs

Average Tenure

Experienced Management: EGLE's management team is considered experienced (3.9 years average tenure).


Board Age and Tenure

5.2yrs

Average Tenure

53yo

Average Age

Experienced Board: EGLE's board of directors are considered experienced (5.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$247,43629 Aug 19
Paul Leand
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares59,300
Max PriceUS$4.20
BuyUS$1,303,27313 Aug 19
Oaktree Capital Management, L.P.
EntityCompany
Shares310,056
Max PriceUS$4.33
BuyUS$2,374,00006 Aug 19
Oaktree Capital Management, L.P.
EntityCompany
Shares550,000
Max PriceUS$4.44
BuyUS$2,963,00031 Jul 19
Oaktree Capital Management, L.P.
EntityCompany
Shares650,000
Max PriceUS$4.62
BuyUS$4,760,00030 Jul 19
Oaktree Capital Management, L.P.
EntityCompany
Shares1,000,000
Max PriceUS$4.76
BuyUS$127,49113 Jun 19
Oaktree Capital Management, L.P.
EntityCompany
Shares27,300
Max PriceUS$4.67
BuyUS$2,634,82007 Jun 19
Oaktree Capital Management, L.P.
EntityCompany
Shares560,600
Max PriceUS$4.70
BuyUS$675,44404 Jun 19
Oaktree Capital Management, L.P.
EntityCompany
Shares146,200
Max PriceUS$4.62
BuyUS$152,50005 Apr 19
Oaktree Capital Management, L.P.
EntityCompany
Shares32,516
Max PriceUS$4.69
BuyUS$716,29230 Mar 19
Oaktree Capital Management, L.P.
EntityCompany
Shares157,931
Max PriceUS$4.57
BuyUS$996,65426 Mar 19
GoldenTree Asset Management, LP
EntityCompany
Shares226,140
Max PriceUS$4.43
BuyUS$94,74218 Mar 19
GoldenTree Asset Management, LP
EntityCompany
Shares20,596
Max PriceUS$4.60
BuyUS$1,985,28312 Mar 19
GoldenTree Asset Management, LP
EntityCompany
Shares445,432
Max PriceUS$4.58
BuyUS$913,36308 Mar 19
GoldenTree Asset Management, LP
EntityCompany
Shares200,447
Max PriceUS$4.56
BuyUS$6,70022 Feb 19
GoldenTree Asset Management, LP
EntityCompany
Shares1,444
Max PriceUS$4.64
BuyUS$793,73015 Feb 19
GoldenTree Asset Management, LP
EntityCompany
Shares174,363
Max PriceUS$4.59
BuyUS$341,81912 Feb 19
GoldenTree Asset Management, LP
EntityCompany
Shares84,969
Max PriceUS$4.21
BuyUS$45,52630 Jan 19
GoldenTree Asset Management, LP
EntityCompany
Shares10,300
Max PriceUS$4.42
BuyUS$1,723,75225 Jan 19
GoldenTree Asset Management, LP
EntityCompany
Shares386,309
Max PriceUS$4.47
BuyUS$4,216,86031 Dec 18
Oaktree Capital Management, L.P.
EntityCompany
Shares960,000
Max PriceUS$4.52
BuyUS$4,665,95219 Dec 18
Oaktree Capital Management, L.P.
EntityCompany
Shares1,021,610
Max PriceUS$4.76
SellUS$12,81918 Dec 18
Steven Tananbaum
EntityIndividual
Shares2,748
Max PriceUS$4.66

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Gary Vogel (53yo)

    CEO & Director

    • Tenure: 4.3yrs
    • Compensation: US$3.53m
  • Frank De Costanzo (56yo)

    CFO & Secretary

    • Tenure: 3.3yrs
    • Compensation: US$1.17m
  • Michael Mitchell

    General Counsel

    • Tenure: 3.9yrs
  • Jonathan Dowsett

    Head of Performance Management & Optimization

    • Tenure: 0yrs
  • Bo Westergaard

    Chief Commercial Officer

    • Tenure: 4.2yrs
  • Archibald Morgan

    VP & Head of Technical Management

    • Tenure: 3.9yrs

Board Members

  • Paul Leand (53yo)

    Independent Chairman

    • Tenure: 5.1yrs
    • Compensation: US$208.10k
  • Gary Weston (62yo)

    Independent Director

    • Tenure: 5.2yrs
    • Compensation: US$119.05k
  • Randee Day (71yo)

    Independent Director

    • Tenure: 5.2yrs
    • Compensation: US$119.05k
  • Gary Vogel (53yo)

    CEO & Director

    • Tenure: 4.3yrs
    • Compensation: US$3.53m
  • Bart Veldhuizen (52yo)

    Independent Director

    • Tenure: 5.2yrs
    • Compensation: US$109.05k
  • Justin Knowles (51yo)

    Independent Director

    • Tenure: 5.2yrs
    • Compensation: US$114.05k

Company Information

Eagle Bulk Shipping Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Eagle Bulk Shipping Inc.
  • Ticker: EGLE
  • Exchange: NasdaqGS
  • Founded: 2005
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$349.408m
  • Shares outstanding: 76.62m
  • Website: https://www.eagleships.com

Number of Employees


Location

  • Eagle Bulk Shipping Inc.
  • 300 First Stamford Place
  • 5th Floor
  • Stamford
  • Connecticut
  • 6902
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EGLENasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 2014

Biography

Eagle Bulk Shipping Inc., through its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bu ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/09 00:44
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.