Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.00.
Several equities research analysts recently commented on the stock. ValuEngine lowered shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of Eagle Bulk Shipping in a research note on Tuesday, September 3rd. They set a “buy” rating and a $6.00 price target on the stock. TheStreet lowered shares of Eagle Bulk Shipping from a “c” rating to a “d+” rating in a research note on Wednesday, August 14th. Zacks Investment Research lowered shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, BidaskClub lowered shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 27,932 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.69, for a total transaction of $131,001.08. Following the transaction, the chief executive officer now directly owns 1,054,620 shares of the company’s stock, valued at approximately $4,946,167.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul M. Jr. Leand acquired 59,300 shares of the stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost of $4.17 per share, for a total transaction of $247,281.00. Following the completion of the transaction, the director now directly owns 189,658 shares in the company, valued at approximately $790,873.86. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of EGLE. Aperio Group LLC purchased a new position in Eagle Bulk Shipping during the 2nd quarter worth $42,000. RMB Capital Management LLC purchased a new position in Eagle Bulk Shipping during the 2nd quarter worth $83,000. Paloma Partners Management Co purchased a new position in Eagle Bulk Shipping during the 2nd quarter worth $98,000. D. E. Shaw & Co. Inc. purchased a new position in Eagle Bulk Shipping during the 2nd quarter worth $104,000. Finally, Royal Bank of Canada grew its position in Eagle Bulk Shipping by 13.6% during the 2nd quarter. Royal Bank of Canada now owns 41,337 shares of the shipping company’s stock worth $216,000 after purchasing an additional 4,955 shares during the last quarter. 81.78% of the stock is currently owned by institutional investors.
Shares of EGLE traded up $0.10 during midday trading on Monday, reaching $4.26. The stock had a trading volume of 448,689 shares, compared to its average volume of 402,845. Eagle Bulk Shipping has a 1-year low of $3.79 and a 1-year high of $5.92. The company’s fifty day simple moving average is $4.37 and its two-hundred day simple moving average is $4.72. The company has a market cap of $310.33 million, a price-to-earnings ratio of 23.67 and a beta of 1.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.39 and a quick ratio of 1.22.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Wednesday, November 6th. The shipping company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). Eagle Bulk Shipping had a negative net margin of 1.31% and a negative return on equity of 1.22%. The firm had revenue of $54.66 million during the quarter, compared to analyst estimates of $55.95 million. On average, sell-side analysts forecast that Eagle Bulk Shipping will post -0.12 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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