Jefferies Lifts PT on Eagle Bulk Shipping (EGLE) Post Q4
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S&P Thinks Dry Bulkers Face Significant Refi, Default Risks (DRYS) (EGLE) (GNK)
April 3, 2013 9:31 AM EDTGlobal ship operators face significant refinancing and default risks as a result of tight bank funding, enormous industry overcapacity, and depressed global trading conditions, says Standard & Poor's Ratings Services in the report: "Global Ship Operators Scramble For Liquidity To Stay Afloat."
In an industry that's highly sensitive to economic conditions, ship charter rates have fallen to between 30% and 80% below their 10-year historical average in parallel with declining economic activity. High operating costs, particularly for fuel, are also depressing their earnings. What's more, a lack of supply discipline in this fragmented industry means that ship operators accelerated ordering... More
Eagle Bulk Shipping, Inc. (EGLE) Tops Q4 EPS by 1c
April 1, 2013 5:03 PM EDTEagle Bulk Shipping, Inc. (NASDAQ: EGLE) reported Q4 EPS of ($1.92), $0.01 better than the analyst estimate of ($1.93). Revenue for the quarter came in at $42.8 million versus the consensus estimate of $42.79 million.
For earnings history and earnings-related data on Eagle Bulk Shipping, Inc. (EGLE) click here.... More
