Jefferies Financial Group began coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) in a research note issued on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $64.00 price target on the shipping company’s stock. Jefferies Financial Group’s price target points to a potential upside of 21.72% from the company’s previous close.
A number of other equities research analysts have also issued reports on EGLE. Clarkson Capital reissued a “buy” rating on shares of Eagle Bulk Shipping in a report on Tuesday, June 14th. HC Wainwright raised their target price on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research report on Monday, May 9th. Finally, StockNews.com raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $71.25.
Eagle Bulk Shipping Price Performance
Shares of Eagle Bulk Shipping stock opened at $52.58 on Wednesday. The firm has a market cap of $719.82 million, a PE ratio of 3.67 and a beta of 1.40. Eagle Bulk Shipping has a 12-month low of $36.21 and a 12-month high of $78.75. 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’s fifty day simple moving average is $58.60 and its two-hundred day simple moving average is $57.39.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping 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 net margin of 33.43% and a return on equity of 40.41%. During the same quarter last year, the firm earned $0.84 EPS. As a group, equities analysts expect that Eagle Bulk Shipping will post 18.17 EPS for the current year.
Insider Buying and Selling at Eagle Bulk Shipping
In related news, CFO Costanzo Frank De sold 3,022 shares of the company’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 sale, the chief financial officer now owns 52,323 shares in the company, valued at approximately $4,084,333.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.
Institutional Trading of Eagle Bulk Shipping
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $31,000. Worth Asset Management LLC purchased a new stake in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $35,000. Fifth Third Bancorp purchased a new stake in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $51,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $69,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Eagle Bulk Shipping in the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
About Eagle Bulk Shipping
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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