Equities research analysts at Jefferies Financial Group initiated coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating on the shipping company’s stock.
EGLE has been the topic of a number of other research reports. TheStreet upgraded shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research report on Friday, March 4th. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, April 12th. StockNews.com downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, B. Riley lifted their price objective on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, March 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eagle Bulk Shipping currently has an average rating of “Buy” and a consensus target price of $69.25.
NASDAQ:EGLE opened at $59.86 on Wednesday. The firm’s 50 day simple moving average is $61.87 and its 200 day simple moving average is $49.79. 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 one year low of $36.18 and a one year high of $72.24. The company has a market cap of $816.07 million, a PE ratio of 5.03 and a beta of 1.31.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last posted its earnings results on Thursday, March 3rd. The shipping company reported $4.28 EPS for the quarter, missing the consensus estimate of $5.58 by ($1.30). Eagle Bulk Shipping had a return on equity of 34.61% and a net margin of 31.10%. The business had revenue of $161.49 million for the quarter, compared to analyst estimates of $152.49 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Equities research analysts expect that Eagle Bulk Shipping will post 16.26 EPS for the current year.
In other news, CEO Gary Vogel sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $63.75, for a total value of $956,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 in the last 90 days. 4.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EGLE. Fifth Third Bancorp purchased a new position in shares of Eagle Bulk Shipping in the 1st quarter worth about $51,000. Citigroup Inc. boosted its holdings in shares of Eagle Bulk Shipping by 161.8% in the 3rd quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock worth $54,000 after buying an additional 665 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth about $161,000. Virtu Financial LLC purchased a new position in shares of Eagle Bulk Shipping in the 4th quarter worth about $207,000. Finally, Williams Jones Wealth Management LLC. purchased a new position in shares of Eagle Bulk Shipping in the 4th quarter worth about $243,000. Hedge funds and other institutional investors own 65.51% of the company’s stock.
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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