Eagle Bulk Shipping Reaches New 12-Month High at $6.84 (EGLE)
Eagle Bulk Shipping (NASDAQ:EGLE) set a new 52-week high during mid-day trading on Thursday, StockRatingsNetwork.com reports. The stock traded as high as $6.84 and last traded at $6.66, with a volume of 4,311,795 shares. The stock had previously closed at $5.40.
A number of analysts have recently weighed in on EGLE shares. Analysts at Global Hunter Securities upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a “sell” rating to a “neutral” rating in a research note to investors on Wednesday, September 4th. They now have a $0.50 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Eagle Bulk Shipping (NASDAQ:EGLE) from $5.00 to $4.00 in a research note to investors on Friday, July 19th. They now have a “hold” rating on the stock. Finally, analysts at Zacks downgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, July 4th. They now have a $3.90 price target on the stock.
Eagle Bulk Shipping has a 52-week low of $1.32 and a 52-week high of $5.96. The stock’s 50-day moving average is $4.12 and its 200-day moving average is $3.67. The company’s market cap is $117.3 million.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ consensus estimate of ($1.83) by $1.65. The company had revenue of $44.20 million for the quarter, compared to the consensus estimate of $39.98 million. During the same quarter last year, the company posted ($1.46) earnings per share. Eagle Bulk Shipping’s revenue was down 8.9% compared to the same quarter last year. Analysts expect that Eagle Bulk Shipping will post $-6.05 EPS for the current fiscal year.
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.
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