Brokerages Set $7.00 Price Target for Eagle Bulk Shipping Inc. (EGLE)
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus price objective of $7.00 for the company and are anticipating that the company will post ($0.09) EPS for the current quarter, according to Zacks. Zacks has also given Eagle Bulk Shipping an industry rank of 207 out of 265 based on the ratings given to related companies.
A number of research firms have recently commented on EGLE. BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.
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Eagle Bulk Shipping (EGLE) traded up 2.09% during trading on Friday, hitting $4.39. 310,928 shares of the company’s stock traded hands. Eagle Bulk Shipping has a 52-week low of $4.06 and a 52-week high of $12.45. The company’s 50 day moving average price is $4.53 and its 200 day moving average price is $5.18.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its earnings results on Monday, May 8th. The shipping company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.05. The company had revenue of $45.86 million for the quarter, compared to analysts’ expectations of $31.30 million. Eagle Bulk Shipping had a negative return on equity of 15.35% and a negative net margin of 131.02%. On average, analysts anticipate that Eagle Bulk Shipping will post ($0.59) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. Weiss Multi Strategy Advisers LLC acquired a new stake in Eagle Bulk Shipping during the first quarter worth approximately $172,000. Segantii Capital Management Ltd boosted 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 last quarter. Rhumbline Advisers acquired a new stake in Eagle Bulk Shipping during the second quarter worth approximately $206,000. BlueCrest Capital Management Ltd boosted 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 last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Eagle Bulk Shipping during the second quarter worth approximately $306,000. Institutional investors own 13.96% of the company’s stock.
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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