Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) has been given a consensus recommendation of “Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $71.75.
EGLE has been the subject of several research reports. Zacks Investment Research upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, May 11th. HC Wainwright increased their price target on Eagle Bulk Shipping from $80.00 to $90.00 in a research note on Monday, May 9th. StockNews.com downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Monday. B. Riley increased their price target on Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, March 7th. Finally, TheStreet upgraded Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research note on Friday, March 4th.
Shares of NASDAQ:EGLE opened at $76.45 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of 5.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16. The business has a fifty day moving average price of $66.29 and a two-hundred day moving average price of $54.65. Eagle Bulk Shipping has a 1 year low of $36.18 and a 1 year high of $78.75.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The firm had revenue of $140.77 million during the quarter, compared to the consensus estimate of $134.93 million. Eagle Bulk Shipping had a return on equity of 40.41% and a net margin of 33.43%. During the same quarter in the prior year, the company earned $0.84 EPS. Sell-side analysts anticipate that Eagle Bulk Shipping will post 17.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $8.00 annualized dividend and a yield of 10.46%. Eagle Bulk Shipping’s dividend payout ratio is currently 55.83%.
In other Eagle Bulk Shipping news, Director Randee E. Day sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $60.49, for a total value of $60,490.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary Vogel sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $63.75, for a total value of $956,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,441 shares of company stock valued at $3,008,718. 2.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised 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 valued at $35,594,000 after acquiring an additional 56,014 shares in the last quarter. Morgan Stanley raised its holdings in shares of Eagle Bulk Shipping by 30.6% during the 3rd quarter. Morgan Stanley now owns 258,301 shares of the shipping company’s stock valued at $13,023,000 after buying an additional 60,492 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of Eagle Bulk Shipping by 36.9% during the 3rd quarter. Citadel Advisors LLC now owns 121,019 shares of the shipping company’s stock valued at $6,102,000 after buying an additional 32,623 shares in the last quarter. Bailard Inc. raised its holdings in shares of Eagle Bulk Shipping by 44.4% during the 4th quarter. Bailard Inc. now owns 6,500 shares of the shipping company’s stock valued at $296,000 after buying an additional 2,000 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Eagle Bulk Shipping by 27.0% during the 3rd quarter. Two Sigma Investments LP now owns 206,834 shares of the shipping company’s stock valued at $10,429,000 after buying an additional 43,981 shares in the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Eagle Bulk Shipping Company Profile (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.
Featured Stories
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.
