Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Given Consensus Recommendation of “Hold” by Analysts

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has received an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have covered the stock in the last year is $56.75.

EGLE has been the topic of several analyst reports. Alliance Global Partners reaffirmed a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Monday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price target on shares of Eagle Bulk Shipping in a research report on Wednesday, January 31st. StockNews.com initiated coverage on shares of Eagle Bulk Shipping in a research report on Saturday, March 23rd. They set a “sell” rating on the stock. B. Riley upped their price target on shares of Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Eagle Bulk Shipping in a research report on Friday, January 5th.

Hedge Funds Weigh In On Eagle Bulk Shipping

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in Eagle Bulk Shipping by 4,753.7% during the third quarter. Tower Research Capital LLC TRC now owns 17,279 shares of the shipping company’s stock worth $726,000 after acquiring an additional 16,923 shares during the period. American Century Companies Inc. increased its position in Eagle Bulk Shipping by 3.8% during the third quarter. American Century Companies Inc. now owns 167,004 shares of the shipping company’s stock worth $7,019,000 after acquiring an additional 6,110 shares during the period. Los Angeles Capital Management LLC increased its position in Eagle Bulk Shipping by 118.7% during the third quarter. Los Angeles Capital Management LLC now owns 30,256 shares of the shipping company’s stock worth $1,272,000 after acquiring an additional 16,420 shares during the period. Koss Olinger Consulting LLC increased its position in Eagle Bulk Shipping by 23.7% during the third quarter. Koss Olinger Consulting LLC now owns 6,082 shares of the shipping company’s stock worth $256,000 after acquiring an additional 1,165 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Eagle Bulk Shipping by 10.1% during the third quarter. Exchange Traded Concepts LLC now owns 9,067 shares of the shipping company’s stock worth $381,000 after acquiring an additional 831 shares during the period. 70.60% of the stock is owned by institutional investors.

Eagle Bulk Shipping Stock Up 1.3 %

Eagle Bulk Shipping stock opened at $63.01 on Thursday. The stock has a market capitalization of $697.52 million, a PE ratio of 41.18 and a beta of 1.49. Eagle Bulk Shipping has a twelve month low of $39.15 and a twelve month high of $65.09. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $59.08 and a 200-day moving average of $50.52.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Monday, March 4th. The shipping company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.75 by $0.38. Eagle Bulk Shipping had a net margin of 5.77% and a return on equity of 4.62%. The business had revenue of $104.59 million during the quarter, compared to analysts’ expectations of $76.16 million. On average, equities research analysts anticipate that Eagle Bulk Shipping will post 4.86 EPS for the current fiscal year.

Eagle Bulk Shipping Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $0.10. This represents a $2.40 annualized dividend and a dividend yield of 3.81%. Eagle Bulk Shipping’s dividend payout ratio is presently 156.86%.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, and cement. It serves miners, producers, traders, and end users.