Eagle Bulk Shipping (EGLE) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

A number of other brokerages have also issued reports on EGLE. Zacks Investment Research lowered Eagle Bulk Shipping from a hold rating to a sell rating in a report on Tuesday, February 13th. BidaskClub upgraded Eagle Bulk Shipping from a sell rating to a hold rating in a report on Tuesday, March 6th. Noble Financial initiated coverage on Eagle Bulk Shipping in a report on Friday, January 12th. They issued a buy rating and a $6.00 price target for the company. Deutsche Bank initiated coverage on Eagle Bulk Shipping in a report on Thursday, January 25th. They issued a buy rating and a $7.00 price target for the company. Finally, Maxim Group reiterated a hold rating and issued a $5.00 price target on shares of Eagle Bulk Shipping in a report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Eagle Bulk Shipping currently has a consensus rating of Hold and a consensus target price of $5.75.

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Shares of NASDAQ:EGLE traded down $0.14 during trading hours on Monday, hitting $4.84. 67,057 shares of the company’s stock traded hands, compared to its average volume of 441,817. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 2.96. The firm has a market capitalization of $338.60, a PE ratio of -11.86 and a beta of 2.26. Eagle Bulk Shipping has a 1 year low of $4.18 and a 1 year high of $5.75.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Monday, March 5th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $74.59 million during the quarter, compared to analyst estimates of $58.34 million. Eagle Bulk Shipping had a negative return on equity of 6.04% and a negative net margin of 18.50%. equities research analysts expect that Eagle Bulk Shipping will post 0.03 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of EGLE. Citadel Advisors LLC bought a new position in Eagle Bulk Shipping in the fourth quarter worth approximately $123,000. Two Sigma Advisers LP bought a new position in Eagle Bulk Shipping in the fourth quarter worth approximately $127,000. The Manufacturers Life Insurance Company raised its stake in Eagle Bulk Shipping by 5,708.4% in the second quarter. The Manufacturers Life Insurance Company now owns 34,386 shares of the shipping company’s stock worth $162,000 after buying an additional 33,794 shares in the last quarter. SG Americas Securities LLC bought a new position in Eagle Bulk Shipping in the fourth quarter worth approximately $171,000. Finally, California State Teachers Retirement System bought a new position in Eagle Bulk Shipping in the second quarter worth approximately $322,000. 28.92% of the stock is owned by institutional investors.

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About Eagle Bulk Shipping

Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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