Eagle Bulk Shipping Inc. (EGLE) Receives Average Rating of “Strong Buy” from Analysts
Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $7.00 for the company and are expecting that the company will post ($0.13) EPS for the current quarter, according to Zacks. Zacks has also given Eagle Bulk Shipping an industry rank of 184 out of 265 based on the ratings given to related companies.
A number of research firms have recently weighed in on EGLE. BidaskClub downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Friday, June 16th.
Eagle Bulk Shipping (NASDAQ:EGLE) traded down 0.91% during mid-day trading on Friday, reaching $4.35. 112,436 shares of the company’s stock traded hands. Eagle Bulk Shipping has a one year low of $4.06 and a one year high of $12.45. The firm’s 50-day moving average price is $4.61 and its 200 day moving average price is $5.28.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Monday, May 8th. The shipping company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. Eagle Bulk Shipping had a negative net margin of 131.02% and a negative return on equity of 15.35%. The firm had revenue of $45.86 million for the quarter, compared to the consensus estimate of $31.30 million. On average, equities research analysts forecast that Eagle Bulk Shipping will post ($0.59) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Raynor Geoffrey increased its stake in Eagle Bulk Shipping by 3.2% in the first quarter. Raynor Geoffrey now owns 763,198 shares of the shipping company’s stock worth $3,912,000 after buying an additional 23,468 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new stake in Eagle Bulk Shipping during the first quarter worth $172,000. Segantii Capital Management Ltd increased its stake in Eagle Bulk Shipping by 985.2% in the first quarter. Segantii Capital Management Ltd now owns 43,407 shares of the shipping company’s stock worth $247,000 after buying an additional 39,407 shares during the period. BlueCrest Capital Management Ltd increased its stake in Eagle Bulk Shipping by 447.0% in the first quarter. BlueCrest Capital Management Ltd now owns 54,700 shares of the shipping company’s stock worth $311,000 after buying an additional 44,700 shares during the period. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in Eagle Bulk Shipping by 60.0% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 160,000 shares of the shipping company’s stock worth $757,000 after buying an additional 60,000 shares during the period. Hedge funds and other institutional investors own 13.96% of the company’s stock.
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Eagle Bulk Shipping Company Profile
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. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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