Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has received a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.73.
Several research firms have commented on EGLE. Maxim Group set a $7.00 target price on shares of Eagle Bulk Shipping and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. BidaskClub downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Noble Financial reissued a “buy” rating and issued a $6.40 target price on shares of Eagle Bulk Shipping in a research report on Friday, July 26th. Finally, ValuEngine downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.
In related news, CEO Gary Vogel sold 7,250 shares of the company’s stock in a transaction 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 directly owns 1,105,432 shares in the company, valued at approximately $6,179,364.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Group Holdings bought 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $4.76 per share, with a total value of $4,760,000.00. The disclosure for this purchase can be found here. Insiders bought 3,244,156 shares of company stock valued at $14,839,990 over the last 90 days. 4.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in EGLE. Bank of New York Mellon Corp increased its holdings in Eagle Bulk Shipping by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 187,576 shares of the shipping company’s stock valued at $864,000 after buying an additional 13,262 shares during the period. Geode Capital Management LLC grew its holdings in shares of Eagle Bulk Shipping by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 752,393 shares of the shipping company’s stock worth $3,468,000 after purchasing an additional 95,850 shares during the last quarter. Oaktree Capital Management LP grew its holdings in shares of Eagle Bulk Shipping by 0.6% in the 1st quarter. Oaktree Capital Management LP now owns 26,267,467 shares of the shipping company’s stock worth $122,143,000 after purchasing an additional 157,931 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Eagle Bulk Shipping by 4.0% in the 4th quarter. BlackRock Inc. now owns 2,438,317 shares of the shipping company’s stock worth $11,240,000 after purchasing an additional 93,472 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Eagle Bulk Shipping by 13.4% in the 4th quarter. Northern Trust Corp now owns 551,591 shares of the shipping company’s stock worth $2,543,000 after purchasing an additional 65,326 shares during the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.
EGLE traded down $0.03 on Friday, reaching $4.19. 5,291 shares of the company traded hands, compared to its average volume of 998,152. The business has a 50 day moving average price of $4.96. Eagle Bulk Shipping has a 52-week low of $3.85 and a 52-week high of $5.98. The stock has a market cap of $308.74 million, a P/E ratio of 23.67 and a beta of 1.17. The company has a current ratio of 1.03, a quick ratio of 0.85 and a debt-to-equity ratio of 0.66.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Monday, July 29th. The shipping company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $48.48 million during the quarter, compared to the consensus estimate of $49.96 million. Eagle Bulk Shipping had a return on equity of 0.27% and a net margin of 1.03%. On average, sell-side analysts anticipate that Eagle Bulk Shipping will post -0.04 earnings per share for the current year.
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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