BidaskClub downgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a sell rating to a strong sell rating in a research note published on Thursday morning.
Other analysts have also recently issued reports about the company. Maxim Group upgraded Eagle Bulk Shipping from a hold rating to a buy rating and boosted their price target for the stock from $6.00 to $7.50 in a research report on Wednesday, July 25th. ValuEngine upgraded Eagle Bulk Shipping from a sell rating to a hold rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded Eagle Bulk Shipping from a sell rating to a hold rating in a research report on Tuesday, May 15th. Morgan Stanley began coverage on Eagle Bulk Shipping in a research report on Monday, June 18th. They set an equal weight rating and a $6.50 price target for the company. Finally, Evercore ISI began coverage on Eagle Bulk Shipping in a research report on Tuesday, May 29th. They set an outperform rating and a $7.50 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Eagle Bulk Shipping has a consensus rating of Hold and an average target price of $6.58.
Shares of Eagle Bulk Shipping stock traded up $0.01 on Thursday, reaching $4.91. The company’s stock had a trading volume of 2,295 shares, compared to its average volume of 253,910. The stock has a market capitalization of $365.19 million, a PE ratio of -11.74 and a beta of 2.22. Eagle Bulk Shipping has a 52-week low of $4.18 and a 52-week high of $6.14. 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 (NASDAQ:EGLE) last posted its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $57.73 million during the quarter, compared to analysts’ expectations 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 research analysts anticipate that Eagle Bulk Shipping will post 0.2 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of EGLE. Millennium Management LLC increased its position in shares of Eagle Bulk Shipping by 67.9% during the fourth quarter. Millennium Management LLC now owns 146,157 shares of the shipping company’s stock worth $655,000 after purchasing an additional 59,101 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Eagle Bulk Shipping by 278.0% during the first quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock worth $112,000 after purchasing an additional 16,601 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Eagle Bulk Shipping during the first quarter worth $252,000. Trexquant Investment LP boosted its stake in Eagle Bulk Shipping by 31.3% during the first quarter. Trexquant Investment LP now owns 62,143 shares of the shipping company’s stock worth $308,000 after buying an additional 14,812 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Eagle Bulk Shipping during the first quarter worth $247,000. Hedge funds and other institutional investors own 46.71% of the company’s stock.
About Eagle Bulk Shipping
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.
Recommended Story: What are the Different Types of Leveraged Buyouts?
Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.