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Eagle Bulk Shipping (NASDAQ:EGLE) Stock Rating Lowered by StockNews.com


Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Other research analysts have also recently issued research reports about the stock. TheStreet raised shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a report on Friday, March 4th. Jefferies Financial Group began coverage on shares of Eagle Bulk Shipping in a report on Wednesday. They issued a “buy” rating on the stock. B. Riley upped their price target on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, March 7th. Finally, Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, April 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.25.

Eagle Bulk Shipping stock opened at $63.83 on Thursday. The stock has a market cap of $870.19 million, a P/E ratio of 5.36 and a beta of 1.31. Eagle Bulk Shipping has a fifty-two week low of $36.18 and a fifty-two week high of $72.24. The firm’s fifty day moving average price is $62.05 and its 200-day moving average price is $49.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.12 and a current ratio of 1.26.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The shipping company reported $4.28 earnings per share for the quarter, missing the consensus estimate of $5.58 by ($1.30). The firm had revenue of $161.49 million during the quarter, compared to the consensus estimate of $152.49 million. Eagle Bulk Shipping had a return on equity of 34.61% and a net margin of 31.10%. During the same period in the previous year, the company posted $0.01 EPS. Sell-side analysts predict that Eagle Bulk Shipping will post 16.26 earnings per share for the current year.

In other news, Director Randee E. Day sold 1,000 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $60.49, for a total transaction of $60,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Vogel sold 15,000 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $63.75, for a total transaction of $956,250.00. The disclosure for this sale can be found here. Insiders have sold 45,441 shares of company stock worth $3,008,718 over the last ninety days. Insiders own 4.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of EGLE. Fifth Third Bancorp purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $51,000. Citigroup Inc. boosted its holdings in shares of Eagle Bulk Shipping by 161.8% during the third 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. Counterpoint Mutual Funds LLC purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth about $69,000. USA Financial Portformulas Corp purchased a new stake in shares of Eagle Bulk Shipping during the third quarter worth about $161,000. Finally, Virtu Financial LLC purchased a new stake in shares of Eagle Bulk Shipping during the fourth quarter worth about $207,000. Institutional investors own 65.51% 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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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)



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