Eagle Bulk Shipping (NASDAQ:EGLE) received a $7.00 price target from stock analysts at Maxim Group in a research note issued to investors on Wednesday, TipRanks reports. The firm presently has a “buy” rating on the shipping company’s stock. Maxim Group’s price objective indicates a potential upside of 31.83% from the stock’s current price.
A number of other analysts also recently weighed in on the company. BidaskClub upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Noble Financial restated a “buy” rating and issued a $6.40 price objective on shares of Eagle Bulk Shipping in a report on Friday, March 8th. TheStreet upgraded Eagle Bulk Shipping from a “d+” rating to a “c” rating in a report on Wednesday, March 6th. Morgan Stanley set a $5.00 price objective on Eagle Bulk Shipping and gave the company a “hold” rating in a report on Friday, February 15th. Finally, Zacks Investment Research downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $6.61.
NASDAQ EGLE opened at $5.31 on Wednesday. The firm has a market capitalization of $400.86 million, a P/E ratio of 29.50 and a beta of 1.23. Eagle Bulk Shipping has a twelve month low of $3.85 and a twelve month high of $6.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.88 and a quick ratio of 1.62.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings data on Tuesday, March 5th. The shipping company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.01. The business had revenue of $61.97 million during the quarter, compared to the consensus estimate of $61.14 million. Eagle Bulk Shipping had a return on equity of 2.67% and a net margin of 4.06%. On average, sell-side analysts anticipate that Eagle Bulk Shipping will post -0.01 EPS for the current fiscal year.
In other news, major shareholder Oaktree Capital Group Holdings purchased 32,516 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were acquired at an average price of $4.69 per share, with a total value of $152,500.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Vogel sold 45,520 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $5.30, for a total transaction of $241,256.00. Following the sale, the chief executive officer now directly owns 1,147,032 shares in the company, valued at approximately $6,079,269.60. The disclosure for this sale can be found here. Insiders have acquired 1,472,505 shares of company stock worth $6,568,666 in the last ninety days. Insiders own 4.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of EGLE. BNP Paribas Arbitrage SA boosted its position in Eagle Bulk Shipping by 465.6% during the first quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 8,185 shares during the last quarter. West Chester Capital Advisors Inc. bought a new position in shares of Eagle Bulk Shipping during the 1st quarter worth about $47,000. Sippican Capital Advisors boosted its position in shares of Eagle Bulk Shipping by 17.1% during the 4th quarter. Sippican Capital Advisors now owns 17,550 shares of the shipping company’s stock worth $81,000 after purchasing an additional 2,560 shares in the last quarter. Mraz Amerine & Associates Inc. bought a new position in shares of Eagle Bulk Shipping during the 1st quarter worth about $87,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Eagle Bulk Shipping by 69.9% during the 4th quarter. Meeder Asset Management Inc. now owns 20,318 shares of the shipping company’s stock worth $94,000 after purchasing an additional 8,361 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
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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