StockNews.com upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.
EGLE has been the subject of several other reports. B. Riley boosted their target price on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a buy rating in a research report on Monday, March 7th. TheStreet upgraded shares of Eagle Bulk Shipping from a c rating to a b- rating in a research note on Friday, March 4th. Finally, Zacks Investment Research cut shares of Eagle Bulk Shipping from a strong-buy rating to a hold rating in a research note on Tuesday, March 29th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Eagle Bulk Shipping currently has an average rating of Buy and an average price target of $69.25.
EGLE stock opened at $60.42 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $823.71 million, a price-to-earnings ratio of 5.08 and a beta of 1.31. Eagle Bulk Shipping has a 12 month low of $34.00 and a 12 month high of $70.98. The firm has a 50 day moving average of $58.72 and a two-hundred day moving average of $48.71.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last posted its earnings results on Thursday, March 3rd. The shipping company reported $4.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.58 by ($1.30). The business had revenue of $161.49 million during the quarter, compared to the consensus estimate of $152.49 million. Eagle Bulk Shipping had a return on equity of 34.61% and a net margin of 31.10%. During the same period in the prior year, the firm earned $0.01 earnings per share. On average, research analysts expect that Eagle Bulk Shipping will post 16.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Tuesday, March 15th were paid a dividend of $2.05 per share. This is a boost from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 13.57%. The ex-dividend date of this dividend was Monday, March 14th. Eagle Bulk Shipping’s dividend payout ratio is presently 68.91%.
In related news, CEO Gary Vogel sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $63.75, for a total transaction of $956,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randee E. Day sold 1,000 shares of the company’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $60.49, for a total transaction of $60,490.00. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in EGLE. Wells Fargo & Company MN grew its holdings in shares of Eagle Bulk Shipping by 214.9% in the 2nd quarter. Wells Fargo & Company MN now owns 16,263 shares of the shipping company’s stock worth $770,000 after purchasing an additional 11,098 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Eagle Bulk Shipping by 2.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,273 shares of the shipping company’s stock worth $628,000 after purchasing an additional 358 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Eagle Bulk Shipping by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 28,200 shares of the shipping company’s stock worth $1,422,000 after purchasing an additional 700 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Eagle Bulk Shipping in the 3rd quarter worth about $161,000. Finally, BlackRock Inc. grew its holdings in shares of Eagle Bulk Shipping by 8.6% in the 3rd quarter. BlackRock Inc. now owns 705,937 shares of the shipping company’s stock worth $35,594,000 after purchasing an additional 56,014 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
About Eagle Bulk Shipping (Get Rating)
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, cement, and forest products. It serves miners, producers, traders, and end users.
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