Analysts at Noble Financial began coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a research report issued on Friday, January 12th. The firm set a “buy” rating and a $6.00 price target on the shipping company’s stock. Noble Financial’s price objective suggests a potential upside of 20.24% from the stock’s previous close.
Several other equities analysts have also commented on the company. Maxim Group reissued a “hold” rating and set a $4.50 price objective on shares of Eagle Bulk Shipping in a research report on Thursday, November 2nd. Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Thursday, November 9th. Finally, ValuEngine lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.75.
Eagle Bulk Shipping (EGLE) traded up $0.06 during trading hours on Friday, reaching $4.99. 239,800 shares of the company traded hands, compared to its average volume of 464,077. The company has a current ratio of 4.25, a quick ratio of 3.75 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $369.78, a PE ratio of -1.49 and a beta of 3.36. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $7.61.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Thursday, November 2nd. The shipping company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Eagle Bulk Shipping had a negative net margin of 83.12% and a negative return on equity of 10.11%. analysts predict that Eagle Bulk Shipping will post -0.43 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. purchased a new position in Eagle Bulk Shipping in the 2nd quarter worth about $306,000. Rhumbline Advisers purchased a new position in Eagle Bulk Shipping in the 2nd quarter worth about $206,000. Bank of New York Mellon Corp purchased a new position in Eagle Bulk Shipping in the 2nd quarter worth about $496,000. Teachers Advisors LLC purchased a new position in Eagle Bulk Shipping in the 2nd quarter worth about $350,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Eagle Bulk Shipping in the 2nd quarter worth about $597,000. 26.30% of the stock is owned by hedge funds and other institutional investors.
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Eagle Bulk Shipping Company Profile
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.
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