MLV & Co Initiates Coverage on Paragon Shipping (PRGN)
Paragon Shipping (NASDAQ:PRGN) opened at 5.72 on Wednesday. Paragon Shipping has a 1-year low of $3.75 and a 1-year high of $9.40. The stock has a 50-day moving average of $5.75 and a 200-day moving average of $6.36. The company’s market cap is $117.6 million.
Paragon Shipping (NASDAQ:PRGN) last posted its quarterly earnings results on Monday, May 19th. The company reported ($0.26) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.10) by $0.16. The company had revenue of $13.45 million for the quarter, compared to the consensus estimate of $13.90 million. During the same quarter last year, the company posted ($0.28) earnings per share. Analysts expect that Paragon Shipping will post $-0.39 EPS for the current fiscal year.
A number of other firms have also recently commented on PRGN. Analysts at Jefferies Group reiterated a “buy” rating on shares of Paragon Shipping in a research note on Wednesday, May 21st. Separately, analysts at Zacks downgraded shares of Paragon Shipping from an “outperform” rating to a “neutral” rating in a research note on Monday, March 10th. They now have a $8.70 price target on the stock. Finally, analysts at Maxim Group raised their price target on shares of Paragon Shipping to $11.00 in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.90.
Paragon Shipping Inc is a holding Company. The Company is a global provider of shipping transportation services.
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