Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) – Research analysts at B. Riley lowered their Q3 2022 earnings per share estimates for shares of Eagle Bulk Shipping in a research note issued to investors on Sunday, October 9th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $4.00 per share for the quarter, down from their previous estimate of $4.28. B. Riley has a “Buy” rating and a $72.00 price target on the stock. The consensus estimate for Eagle Bulk Shipping’s current full-year earnings is $16.92 per share.
Several other brokerages have also issued reports on EGLE. Alliance Global Partners started coverage on Eagle Bulk Shipping in a report on Wednesday, August 3rd. They set a “buy” rating and a $85.00 price objective for the company. Clarkson Capital reissued a “buy” rating on shares of Eagle Bulk Shipping in a research note on Tuesday, June 14th. StockNews.com cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Jefferies Financial Group cut their price target on shares of Eagle Bulk Shipping from $64.00 to $60.00 in a report on Monday, September 26th. Finally, Stifel Nicolaus began coverage on shares of Eagle Bulk Shipping in a report on Thursday, September 29th. They set a “buy” rating and a $62.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eagle Bulk Shipping currently has an average rating of “Moderate Buy” and a consensus price target of $72.17.
Eagle Bulk Shipping Price Performance
Shares of NASDAQ:EGLE opened at $46.23 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.61 and a debt-to-equity ratio of 0.42. Eagle Bulk Shipping has a 1 year low of $36.21 and a 1 year high of $78.75. The business has a fifty day simple moving average of $46.61 and a 200 day simple moving average of $55.61. The firm has a market cap of $632.89 million, a price-to-earnings ratio of 2.39 and a beta of 1.32.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The shipping company reported $4.98 EPS for the quarter, beating analysts’ consensus estimates of $4.17 by $0.81. Eagle Bulk Shipping had a net margin of 41.71% and a return on equity of 42.92%. The firm had revenue of $162.41 million for the quarter, compared to the consensus estimate of $140.92 million.
Eagle Bulk Shipping Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Tuesday, August 16th were given a $2.20 dividend. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, August 15th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 19.04%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is currently 45.45%.
Institutional Investors Weigh In On Eagle Bulk Shipping
A number of hedge funds have recently bought and sold shares of EGLE. SeaCrest Wealth Management LLC bought a new stake in Eagle Bulk Shipping during the second quarter valued at about $29,000. Edmond DE Rothschild Holding S.A. bought a new position in Eagle Bulk Shipping during the first quarter valued at about $31,000. Worth Asset Management LLC bought a new stake in shares of Eagle Bulk Shipping in the 1st quarter worth approximately $35,000. New York State Teachers Retirement System bought a new stake in shares of Eagle Bulk Shipping in the 2nd quarter worth approximately $42,000. Finally, Fifth Third Bancorp bought a new stake in shares of Eagle Bulk Shipping during the first quarter valued at approximately $51,000. 86.73% of the stock is currently owned by institutional investors.
Eagle Bulk Shipping Company Profile
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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