Eagle Bulk Shipping (EGLE) Stock Rating Reaffirmed by Noble Financial

Share on StockTwits

Eagle Bulk Shipping (NASDAQ:EGLE)‘s stock had its “buy” rating reissued by stock analysts at Noble Financial in a research note issued on Thursday.

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. ValuEngine raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. DNB Markets initiated coverage on shares of Eagle Bulk Shipping in a report on Monday, June 18th. They set a “buy” rating on the stock. Maxim Group upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $7.50 in a report on Wednesday, July 25th. Finally, Morgan Stanley initiated coverage on shares of Eagle Bulk Shipping in a report on Monday, June 18th. They set an “equal weight” rating and a $6.50 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.58.

Shares of NASDAQ EGLE opened at $4.86 on Thursday. The firm has a market cap of $365.19 million, a P/E ratio of -11.74 and a beta of 2.22. Eagle Bulk Shipping has a 12-month low of $4.18 and a 12-month high of $6.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.48 and a current ratio of 2.76.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The company had revenue of $57.73 million for the quarter, compared to the consensus estimate of $57.76 million. Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. equities research analysts predict that Eagle Bulk Shipping will post 0.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of Eagle Bulk Shipping by 278.0% in the first 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. Jump Trading LLC purchased a new stake in shares of Eagle Bulk Shipping in the first quarter valued at about $113,000. Tower Research Capital LLC TRC raised its holdings in shares of Eagle Bulk Shipping by 319.0% in the second quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock valued at $146,000 after purchasing an additional 20,514 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Eagle Bulk Shipping by 57,096.6% in the first quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock valued at $164,000 after purchasing an additional 33,116 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Eagle Bulk Shipping by 162.6% in the second quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock valued at $232,000 after purchasing an additional 26,441 shares during the last quarter. Hedge funds and other 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.

Featured Article: Technical Analysis of Stocks, How Can It Help

Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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.

Leave a Reply