Paragon Shipping Given Average Rating of “Buy” by Brokerages (NASDAQ:PRGN)
Paragon Shipping (NASDAQ:PRGN) has earned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Stock Ratings News reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.45.
PRGN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Paragon Shipping from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $4.80 price target on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Paragon Shipping in a research note on Tuesday, June 10th. They set a “buy” rating and a $12.00 price target on the stock. Finally, analysts at MLV & Co
initiated coverage on shares of Paragon Shipping in a research note on Wednesday, May 28th. They set a “hold” rating on the stock.
Paragon Shipping (NASDAQ:PRGN) opened at 4.76 on Friday. Paragon Shipping has a 1-year low of $3.90 and a 1-year high of $9.40. The stock’s 50-day moving average is $5.47 and its 200-day moving average is $6.12. The company’s market cap is $117.2 million.
Paragon Shipping (NASDAQ:PRGN) last issued its quarterly earnings data 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. On average, analysts predict that Paragon Shipping will post $-0.63 earnings per share for the current fiscal year.
Paragon Shipping Inc is a holding Company. The Company is a global provider of shipping transportation services.
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