Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has been assigned an average rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.68.
A number of research firms have commented on EGLE. BidaskClub downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Maxim Group set a $7.00 target price on shares of Eagle Bulk Shipping and gave the company a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, ValuEngine raised shares of Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th.
In other news, major shareholder Oaktree Capital Group Holdings acquired 560,600 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $4.70 per share, with a total value of $2,634,820.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Vogel sold 32,120 shares of Eagle Bulk Shipping stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $5.65, for a total transaction of $181,478.00. Following the completion of the transaction, the chief executive officer now directly owns 1,105,432 shares in the company, valued at approximately $6,245,690.80. The disclosure for this sale can be found here. In the last three months, insiders have acquired 734,100 shares of company stock worth $3,437,755 and have sold 84,890 shares worth $463,262. Company insiders own 4.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Eagle Bulk Shipping by 465.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock worth $46,000 after buying an additional 8,185 shares during the last quarter. West Chester Capital Advisors Inc. purchased a new position in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $47,000. Mraz Amerine & Associates Inc. purchased a new position in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $87,000. Paloma Partners Management Co purchased a new position in shares of Eagle Bulk Shipping in the 4th quarter worth approximately $153,000. Finally, Rhumbline Advisers grew its position in shares of Eagle Bulk Shipping by 42.7% in the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock worth $317,000 after buying an additional 20,557 shares during the last quarter. 84.11% of the stock is currently owned by hedge funds and other institutional investors.
EGLE stock traded down $0.03 during trading on Tuesday, hitting $5.19. The company had a trading volume of 473,266 shares, compared to its average volume of 272,806. The stock has a market cap of $379.67 million, a price-to-earnings ratio of 28.83 and a beta of 1.29. Eagle Bulk Shipping has a 52-week low of $3.85 and a 52-week high of $6.09. The firm has a 50 day moving average of $5.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.30 and a quick ratio of 1.13.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Tuesday, May 7th. The shipping company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.10. The company had revenue of $51.48 million for the quarter, compared to the consensus estimate of $47.72 million. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%. As a group, analysts anticipate that Eagle Bulk Shipping will post 0.09 earnings per share for the current year.
Eagle Bulk Shipping Company Profile
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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