EGLE has been the subject of a number of other research reports. Maxim Group set a $7.00 price objective on shares of Eagle Bulk Shipping and gave the company a buy rating in a report on Wednesday, May 8th. ValuEngine upgraded shares of Zuora from a hold rating to a buy rating in a report on Saturday, July 6th. Finally, Zacks Investment Research lowered shares of ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $6.68.
Shares of NASDAQ EGLE opened at $5.50 on Friday. The firm has a 50 day simple moving average of $5.12. The company has a market cap of $379.65 million, a price-to-earnings ratio of 30.56 and a beta of 1.28. Eagle Bulk Shipping has a 1 year low of $3.85 and a 1 year high of $6.09. The company has a current ratio of 1.30, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.
Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $51.48 million during the quarter, compared to analyst estimates of $47.72 million. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%. Analysts predict that Eagle Bulk Shipping will post 0.09 EPS for the current year.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 7,250 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.59, for a total transaction of $40,527.50. Following the completion of the transaction, the chief executive officer now owns 1,105,432 shares in the company, valued at approximately $6,179,364.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Group Holdings purchased 146,200 shares of the stock in a transaction on Monday, June 3rd. The shares were purchased at an average price of $4.62 per share, with a total value of $675,444.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 734,100 shares of company stock valued at $3,437,755. Company insiders own 4.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its holdings in Eagle Bulk Shipping by 465.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock worth $46,000 after purchasing an additional 8,185 shares during the last quarter. West Chester Capital Advisors Inc. bought a new position in Eagle Bulk Shipping during the 1st quarter worth approximately $47,000. Mraz Amerine & Associates Inc. bought a new position in Eagle Bulk Shipping during the 1st quarter worth approximately $87,000. Paloma Partners Management Co bought a new position in Eagle Bulk Shipping during the 4th quarter worth approximately $153,000. Finally, Rhumbline Advisers raised its holdings in Eagle Bulk Shipping by 42.7% during the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock worth $317,000 after purchasing an additional 20,557 shares during the last quarter. Hedge funds and other institutional investors own 84.11% of the company’s stock.
About Eagle Bulk Shipping
Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.
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