StockNews.com upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) from a hold rating to a buy rating in a report issued on Tuesday morning.
Other equities analysts have also issued research reports about the stock. B. Riley lifted their price target on shares of Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a buy rating in a research report on Monday, March 7th. HC Wainwright raised their price objective on shares of Eagle Bulk Shipping from $80.00 to $90.00 in a research note on Monday. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a hold rating to a strong-buy rating and set a $78.00 price objective on the stock in a research note on Thursday, May 5th. Jefferies Financial Group began coverage on shares of Eagle Bulk Shipping in a research note on Wednesday, April 27th. They issued a buy rating on the stock. Finally, TheStreet upgraded shares of Eagle Bulk Shipping from a c rating to a b- rating in a research note on Friday, March 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Eagle Bulk Shipping presently has an average rating of Buy and an average target price of $74.75.
NASDAQ:EGLE opened at $63.15 on Tuesday. Eagle Bulk Shipping has a 12 month low of $36.18 and a 12 month high of $72.24. The firm has a market cap of $860.92 million, a price-to-earnings ratio of 4.41 and a beta of 1.29. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $63.83 and its 200-day moving average is $51.03.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The shipping company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.01. Eagle Bulk Shipping had a net margin of 33.43% and a return on equity of 41.96%. During the same period last year, the business earned $0.84 EPS. Research analysts predict that Eagle Bulk Shipping will post 16.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Monday, May 16th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $8.00 dividend on an annualized basis and a yield of 12.67%. Eagle Bulk Shipping’s dividend payout ratio is currently 57.22%.
In other Eagle Bulk Shipping news, CEO Gary Vogel sold 29,441 shares of Eagle Bulk Shipping stock in a transaction on Tuesday, April 19th. The stock was 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 of the company’s stock, valued at $11,345,634.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Randee E. Day sold 1,000 shares of Eagle Bulk Shipping stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $60.49, for a total value of $60,490.00. The disclosure for this sale can be found here. Insiders have sold 45,441 shares of company stock worth $3,008,718 in the last quarter. Corporate insiders own 4.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EGLE. Edmond DE Rothschild Holding S.A. bought a new position in shares of Eagle Bulk Shipping during the first quarter valued at $31,000. Fifth Third Bancorp bought a new position in shares of Eagle Bulk Shipping during the first quarter valued at $51,000. Citigroup Inc. lifted 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 valued at $54,000 after acquiring an additional 665 shares during the period. Counterpoint Mutual Funds LLC bought a new position in shares of Eagle Bulk Shipping during the first quarter valued at $69,000. Finally, Virtu Financial LLC bought a new position in shares of Eagle Bulk Shipping during the fourth quarter valued at $207,000. 72.13% of the stock is owned by institutional investors.
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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