Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned a consensus rating of “Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.40.
A number of equities analysts have commented on EGLE shares. ValuEngine downgraded shares of Eagle Bulk Shipping from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 25th. B. Riley started coverage on shares of Eagle Bulk Shipping in a research note on Thursday, October 4th. They set a “buy” rating and a $8.50 target price on the stock. Noble Financial reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a research note on Thursday, September 6th. BidaskClub downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Friday, August 10th.
In related news, major shareholder Oaktree Capital Group Holdings purchased 1,220,000 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was acquired at an average cost of $4.57 per share, for a total transaction of $5,575,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Goldentree Asset Management Lp purchased 90,030 shares of the company’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $4.53 per share, with a total value of $407,835.90. The disclosure for this purchase can be found here. Insiders have acquired 2,116,994 shares of company stock worth $9,680,397 over the last ninety days. 3.70% of the stock is owned by insiders.
Shares of NASDAQ:EGLE traded up $0.03 during midday trading on Monday, hitting $4.77. The company’s stock had a trading volume of 328,285 shares, compared to its average volume of 424,999. The company has a current ratio of 2.16, a quick ratio of 1.91 and a debt-to-equity ratio of 0.63. The company has a market cap of $346.20 million, a P/E ratio of 67.71 and a beta of 1.83. Eagle Bulk Shipping has a 12-month low of $4.22 and a 12-month high of $6.14.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Tuesday, November 6th. The shipping company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $53.97 million for the quarter, compared to the consensus estimate of $57.49 million. Eagle Bulk Shipping had a negative net margin of 3.52% and a positive return on equity of 0.96%. On average, analysts expect that Eagle Bulk Shipping will post 0.2 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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