Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.
Other research analysts also recently issued reports about the company. TheStreet upgraded Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. B. Riley boosted their price target on Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a report on Monday, March 7th. Finally, 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 report on Tuesday, April 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eagle Bulk Shipping has a consensus rating of “Buy” and a consensus target price of $69.25.
Shares of Eagle Bulk Shipping stock opened at $69.57 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.12. Eagle Bulk Shipping has a 1 year low of $36.18 and a 1 year high of $72.24. The company has a market capitalization of $948.45 million, a P/E ratio of 5.85 and a beta of 1.31. The business has a 50 day moving average price of $60.76 and a 200 day moving average price of $49.36.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The shipping company reported $4.28 earnings per share 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 analyst estimates of $152.49 million. Eagle Bulk Shipping had a net margin of 31.10% and a return on equity of 34.61%. During the same quarter last year, the firm posted $0.01 earnings per share. As a group, research analysts expect that Eagle Bulk Shipping will post 16.26 EPS for the current fiscal year.
In related news, 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 completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, Director Randee E. Day sold 1,000 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was 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. Insiders have sold a total of 45,441 shares of company stock valued at $3,008,718 over the last three months. Corporate insiders own 4.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in EGLE. Fifth Third Bancorp purchased a new stake in Eagle Bulk Shipping during the 1st quarter worth $51,000. Citigroup Inc. boosted its position in Eagle Bulk Shipping by 161.8% during the 3rd quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock worth $54,000 after purchasing an additional 665 shares during the period. USA Financial Portformulas Corp purchased a new position in Eagle Bulk Shipping in the 3rd quarter valued at about $161,000. Virtu Financial LLC purchased a new position in Eagle Bulk Shipping in the 4th quarter valued at about $207,000. Finally, Williams Jones Wealth Management LLC. purchased a new position in Eagle Bulk Shipping in the 4th quarter valued at about $243,000. 65.51% of the stock is owned by hedge funds and other institutional investors.
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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