Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) traded down 4.5% on Friday . The company traded as low as $49.12 and last traded at $49.53. 1,623 shares traded hands during trading, a decline of 100% from the average session volume of 403,194 shares. The stock had previously closed at $51.88.
A number of analysts have weighed in on the stock. Clarkson Capital reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a research note on Tuesday, June 14th. HC Wainwright boosted their target price on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research note on Monday, May 9th. StockNews.com raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research note on Tuesday, June 14th. Jefferies Financial Group assumed coverage on shares of Eagle Bulk Shipping in a research note on Wednesday, April 27th. They set a “buy” rating on the stock. Finally, 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 note on Monday, March 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Eagle Bulk Shipping has an average rating of “Buy” and an average target price of $73.67.
The company has a quick ratio of 1.16, a current ratio of 1.37 and a debt-to-equity ratio of 0.48. The company has a market cap of $647.68 million, a P/E ratio of 3.30 and a beta of 1.27. The firm’s 50 day moving average is $63.29 and its two-hundred day moving average is $57.05.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.01. Eagle Bulk Shipping had a net margin of 33.43% and a return on equity of 40.41%. The company had revenue of $140.77 million for the quarter, compared to analysts’ expectations of $134.93 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts forecast that Eagle Bulk Shipping Inc. will post 18.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th were given a dividend of $2.00 per share. The ex-dividend date was Friday, May 13th. This represents a $8.00 dividend on an annualized basis and a yield of 16.91%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is currently 55.83%.
In other Eagle Bulk Shipping news, CFO Costanzo Frank De sold 3,022 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $78.06, for a total transaction of $235,897.32. Following the sale, the chief financial officer now owns 52,323 shares of the company’s stock, valued at $4,084,333.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary Vogel sold 29,441 shares of the company’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $67.66, for a total transaction of $1,991,978.06. Following the sale, the chief executive officer now directly owns 167,686 shares in the company, valued at approximately $11,345,634.76. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Eagle Bulk Shipping by 30.6% during the third quarter. Morgan Stanley now owns 258,301 shares of the shipping company’s stock valued at $13,023,000 after purchasing an additional 60,492 shares during the period. Citadel Advisors LLC raised its holdings in shares of Eagle Bulk Shipping by 36.9% during the third quarter. Citadel Advisors LLC now owns 121,019 shares of the shipping company’s stock valued at $6,102,000 after purchasing an additional 32,623 shares during the period. Bailard Inc. raised its holdings in shares of Eagle Bulk Shipping by 44.4% during the fourth quarter. Bailard Inc. now owns 6,500 shares of the shipping company’s stock valued at $296,000 after purchasing an additional 2,000 shares during the period. Baird Financial Group Inc. acquired a new position in shares of Eagle Bulk Shipping during the fourth quarter valued at about $722,000. Finally, Relyea Zuckerberg Hanson LLC raised its holdings in shares of Eagle Bulk Shipping by 30.2% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 144,991 shares of the shipping company’s stock valued at $9,198,000 after purchasing an additional 33,643 shares during the period. Hedge funds and other institutional investors own 72.13% of the company’s stock.
Eagle Bulk Shipping Company Profile (NASDAQ:EGLE)
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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