Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) has earned an average rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $73.67.
A number of analysts have issued reports on the company. StockNews.com raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. HC Wainwright raised their target price on Eagle Bulk Shipping from $80.00 to $90.00 in a report on Monday, May 9th. Jefferies Financial Group began coverage on Eagle Bulk Shipping in a report on Wednesday, April 27th. They issued a “buy” rating on the stock. B. Riley lifted their price objective on Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, March 7th. Finally, Clarkson Capital reissued a “buy” rating on shares of Eagle Bulk Shipping in a report on Tuesday, June 14th.
Shares of NASDAQ EGLE opened at $47.30 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.16 and a current ratio of 1.37. The firm has a market cap of $647.68 million, a price-to-earnings ratio of 3.30 and a beta of 1.27. The business’s 50-day simple moving average is $63.29 and its 200-day simple moving average is $56.93. Eagle Bulk Shipping has a 52 week low of $36.18 and a 52 week high of $78.75.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. The business had revenue of $140.77 million for the quarter, compared to analyst estimates 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 firm posted $0.84 EPS. As a group, equities research analysts forecast that Eagle Bulk Shipping will post 18.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Monday, May 16th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 16.91%. The ex-dividend date of this dividend was Friday, May 13th. Eagle Bulk Shipping’s payout ratio is presently 55.83%.
In related news, CEO Gary Vogel sold 29,441 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $67.66, for a total transaction of $1,991,978.06. Following the completion of the transaction, the chief executive officer now owns 167,686 shares in the company, valued at approximately $11,345,634.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Costanzo Frank De sold 3,022 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $78.06, for a total value of $235,897.32. Following the transaction, the chief financial officer now owns 52,323 shares of the company’s stock, valued at approximately $4,084,333.38. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. bought a new position in Eagle Bulk Shipping in the 1st quarter valued at $31,000. Worth Asset Management LLC bought a new position in Eagle Bulk Shipping in the 1st quarter valued at $35,000. Fifth Third Bancorp bought a new position in Eagle Bulk Shipping in the 1st quarter valued at $51,000. Counterpoint Mutual Funds LLC bought a new position in Eagle Bulk Shipping in the 1st quarter valued at $69,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Eagle Bulk Shipping in the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 72.13% 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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