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Stock analysts at Jefferies Group boosted their target price on shares of Eagle Bulk Shipping (NASDAQ:EGLE) from $3.50 to $4.00 in a report issued on Friday, AR Network reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 3.09% from the stock’s previous close.

Shares of Eagle Bulk Shipping (NASDAQ:EGLE) traded down 1.03% on Friday, hitting $3.84. 295,665 shares of the company’s stock traded hands. Eagle Bulk Shipping has a 1-year low of $1.75 and a 1-year high of $8.75. The stock has a 50-day moving average of $3.87 and a 200-day moving average of $4.63. The company’s market cap is $64.0 million.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its earnings data on Wednesday, November 6th. The company reported ($2.22) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.72) by $0.50. The company had revenue of $38.98 million for the quarter, compared to the consensus estimate of $44.10 million. During the same quarter last year, the company posted ($1.77) earnings per share. Eagle Bulk Shipping’s revenue was down 16.8% compared to the same quarter last year. Analysts expect that Eagle Bulk Shipping will post $-7.61 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Eagle Bulk Shipping in a research note to investors on Friday, November 15th. They now have a $0.50 price target on the stock, down previously from $2.50. Analysts at Zacks downgraded shares of Eagle Bulk Shipping from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, November 13th. They now have a $5.60 price target on the stock.

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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