Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.90.
Several equities analysts have weighed in on the company. Maxim Group raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $7.50 in a report on Wednesday, July 25th. Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. BidaskClub cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. ValuEngine raised Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Morgan Stanley assumed coverage on Eagle Bulk Shipping in a research note on Monday, June 18th. They issued an “equal weight” rating and a $6.50 price target on the stock.
NASDAQ EGLE traded up $0.01 during midday trading on Friday, hitting $5.12. The company had a trading volume of 16,748 shares, compared to its average volume of 248,141. The stock has a market capitalization of $375.41 million, a PE ratio of -12.17 and a beta of 2.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $6.14.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The company had revenue of $57.73 million during the quarter, compared to analyst estimates of $57.76 million. Eagle Bulk Shipping had a negative net margin of 8.00% and a negative return on equity of 1.79%. equities analysts expect that Eagle Bulk Shipping will post 0.2 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in shares of Eagle Bulk Shipping by 408.3% in the 2nd quarter. Acadian Asset Management LLC now owns 310,329 shares of the shipping company’s stock valued at $1,688,000 after purchasing an additional 249,276 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Eagle Bulk Shipping by 278.0% in the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 16,601 shares during the last quarter. Barclays PLC increased its stake in shares of Eagle Bulk Shipping by 117.3% in the 1st quarter. Barclays PLC now owns 48,605 shares of the shipping company’s stock valued at $240,000 after purchasing an additional 26,238 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Eagle Bulk Shipping during the 4th quarter worth $127,000. Finally, Deutsche Bank AG grew its position in Eagle Bulk Shipping by 671.5% during the 4th quarter. Deutsche Bank AG now owns 276,596 shares of the shipping company’s stock worth $1,238,000 after acquiring an additional 240,744 shares during the last quarter. Institutional investors own 46.71% of the company’s stock.
Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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