Eagle Bulk Shipping (NASDAQ:EGLE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank initiated coverage on shares of Eagle Bulk Shipping in a research report on Thursday, January 25th. They issued a “buy” rating and a $7.00 target price for the company. Noble Financial initiated coverage on shares of Eagle Bulk Shipping in a research report on Friday, January 12th. They issued a “buy” rating and a $6.00 target price for the company. BidaskClub raised shares of Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Maxim Group reaffirmed a “hold” rating and issued a $5.00 price target on shares of Eagle Bulk Shipping in a research note on Monday, March 5th. Finally, Zacks Investment Research downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.75.
Shares of Eagle Bulk Shipping stock traded up $0.10 during trading on Wednesday, reaching $5.21. The company’s stock had a trading volume of 155,606 shares, compared to its average volume of 420,687. The stock has a market cap of $356.90, a PE ratio of -12.40 and a beta of 2.26. Eagle Bulk Shipping has a 52 week low of $4.18 and a 52 week high of $5.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.96 and a current ratio of 3.41.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Monday, March 5th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. The company had revenue of $74.59 million during the quarter, compared to analysts’ expectations of $58.34 million. Eagle Bulk Shipping had a negative net margin of 18.50% and a negative return on equity of 6.04%. equities research analysts predict that Eagle Bulk Shipping will post 0.15 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in Eagle Bulk Shipping in the fourth quarter valued at about $123,000. Two Sigma Advisers LP acquired a new position in Eagle Bulk Shipping in the fourth quarter valued at about $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 valued at $162,000 after purchasing an additional 33,794 shares in the last quarter. SG Americas Securities LLC acquired a new position in Eagle Bulk Shipping in the fourth quarter valued at about $171,000. Finally, California State Teachers Retirement System acquired a new position in Eagle Bulk Shipping in the second quarter valued at about $322,000. 28.92% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Eagle Bulk Shipping (EGLE) Upgraded at ValuEngine” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/18/eagle-bulk-shipping-egle-upgraded-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.