A number of research firms have changed their ratings and price targets for Eagle Bulk Shipping (NASDAQ: EGLE):
- 4/20/2022 – Eagle Bulk Shipping was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
- 4/12/2022 – Eagle Bulk Shipping was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
- 4/12/2022 – Eagle Bulk Shipping was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
- 3/31/2022 – Eagle Bulk Shipping is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
- 3/29/2022 – Eagle Bulk Shipping was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
- 3/10/2022 – Eagle Bulk Shipping was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $73.00 price target on the stock. According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
- 3/7/2022 – Eagle Bulk Shipping was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
- 3/7/2022 – Eagle Bulk Shipping had its price target raised by analysts at B. Riley from $62.00 to $67.00. They now have a “buy” rating on the stock.
- 3/4/2022 – Eagle Bulk Shipping was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
Shares of NASDAQ:EGLE traded down $3.62 during mid-day trading on Thursday, reaching $65.93. The company had a trading volume of 5,030 shares, compared to its average volume of 360,436. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 0.49. The firm has a market cap of $898.82 million, a price-to-earnings ratio of 5.54 and a beta of 1.31. The company’s 50-day moving average price is $61.09 and its 200-day moving average price is $49.50. Eagle Bulk Shipping Inc. has a one year low of $36.18 and a one year high of $72.24.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last posted its quarterly earnings results on Thursday, March 3rd. The shipping company reported $4.28 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $161.49 million during the quarter, compared to the consensus estimate of $152.49 million. During the same period last year, the firm posted $0.01 EPS. On average, research analysts anticipate that Eagle Bulk Shipping Inc. will post 16.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Tuesday, March 15th were paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 12.44%. 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, March 14th. Eagle Bulk Shipping’s payout ratio is currently 68.91%.
In other news, CEO Gary Vogel sold 29,441 shares of the business’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 transaction, the chief executive officer now directly owns 167,686 shares in the company, valued at approximately $11,345,634.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randee E. Day sold 1,000 shares of the business’s stock in a transaction on Thursday, March 17th. The shares were 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 sold a total of 45,441 shares of company stock valued at $3,008,718 over the last quarter. 4.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Eagle Bulk Shipping by 8.6% during the 3rd quarter. BlackRock Inc. now owns 705,937 shares of the shipping company’s stock valued at $35,594,000 after purchasing an additional 56,014 shares in the last quarter. Morgan Stanley lifted its stake in Eagle Bulk Shipping by 30.6% during the third quarter. Morgan Stanley now owns 258,301 shares of the shipping company’s stock worth $13,023,000 after purchasing an additional 60,492 shares during the last quarter. Manatuck Hill Partners LLC boosted its holdings in shares of Eagle Bulk Shipping by 273.0% in the 3rd quarter. Manatuck Hill Partners LLC now owns 111,898 shares of the shipping company’s stock worth $5,642,000 after purchasing an additional 81,898 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Eagle Bulk Shipping by 36.9% during the 3rd quarter. Citadel Advisors LLC now owns 121,019 shares of the shipping company’s stock valued at $6,102,000 after purchasing an additional 32,623 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Eagle Bulk Shipping by 27.0% during the 3rd quarter. Two Sigma Investments LP now owns 206,834 shares of the shipping company’s stock valued at $10,429,000 after buying an additional 43,981 shares in the last quarter. Hedge funds and other institutional investors own 65.51% of the company’s stock.
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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