Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $71.75.
Several research analysts have recently commented on EGLE shares. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Wednesday. B. Riley raised their target price on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a report on Monday, March 7th. StockNews.com raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday. HC Wainwright raised their target price on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a report on Monday. Finally, TheStreet raised shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th.
In other news, CEO Gary Vogel sold 29,441 shares of Eagle Bulk Shipping stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $67.66, for a total value of $1,991,978.06. Following the transaction, the chief executive officer now directly owns 167,686 shares of the company’s stock, valued at approximately $11,345,634.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randee E. Day sold 1,000 shares of Eagle Bulk Shipping 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. In the last three months, insiders have sold 45,441 shares of company stock worth $3,008,718. 4.10% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Eagle Bulk Shipping in the 1st quarter valued at $31,000. Fifth Third Bancorp purchased a new position in Eagle Bulk Shipping in the 1st quarter valued at $51,000. Citigroup Inc. grew its position in Eagle Bulk Shipping by 161.8% in the 3rd quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock valued at $54,000 after buying an additional 665 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Eagle Bulk Shipping in the 1st quarter valued at $69,000. Finally, Virtu Financial LLC purchased a new position in Eagle Bulk Shipping in the 4th quarter valued at $207,000. 72.13% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ EGLE opened at $62.24 on Friday. The firm has a 50 day simple moving average of $64.16 and a 200-day simple moving average of $51.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.37. Eagle Bulk Shipping has a one year low of $36.18 and a one year high of $72.24. The firm has a market cap of $852.07 million, a price-to-earnings ratio of 4.34 and a beta of 1.29.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 EPS for the quarter, beating 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%. During the same period last year, the business earned $0.84 earnings per share. Equities analysts predict that Eagle Bulk Shipping will post 17.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $8.00 dividend on an annualized basis and a yield of 12.85%. Eagle Bulk Shipping’s payout ratio is currently 57.22%.
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.
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