Eagle Bulk Shipping (NASDAQ:EGLE) Rating Lowered to Buy at ValuEngine

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Eagle Bulk Shipping (NASDAQ:EGLE) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, October 25th.

EGLE has been the subject of several other research reports. B. Riley assumed coverage on shares of Eagle Bulk Shipping in a research note on Thursday, October 4th. They set a “buy” rating and a $8.50 price objective for the company. BidaskClub cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Thursday, August 16th. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Maxim Group raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $7.50 in a research note on Wednesday, July 25th. Finally, Noble Financial reissued a “buy” rating on shares of Eagle Bulk Shipping in a research note on Thursday, September 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.17.

Shares of EGLE stock opened at $4.72 on Thursday. The stock has a market capitalization of $344.73 million, a price-to-earnings ratio of 67.43 and a beta of 1.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.91 and a current ratio of 2.16. Eagle Bulk Shipping has a 52 week low of $4.18 and a 52 week high of $6.14.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings data on Tuesday, November 6th. The shipping company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $53.97 million for the quarter, compared to analyst estimates of $57.49 million. Eagle Bulk Shipping had a negative net margin of 3.52% and a positive return on equity of 0.96%. Research analysts predict that Eagle Bulk Shipping will post 0.2 earnings per share for the current year.

In other news, major shareholder Goldentree Asset Management Lp purchased 713,610 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average cost of $4.57 per share, for a total transaction of $3,261,197.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Teachers Advisors LLC boosted its holdings in shares of Eagle Bulk Shipping by 17.3% during the 3rd quarter. Teachers Advisors LLC now owns 97,264 shares of the shipping company’s stock valued at $547,000 after acquiring an additional 14,352 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth approximately $109,000. Jane Street Group LLC bought a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth approximately $417,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Eagle Bulk Shipping by 512.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 105,331 shares of the shipping company’s stock worth $592,000 after purchasing an additional 88,146 shares during the period. Finally, Bailard Inc. bought a new position in shares of Eagle Bulk Shipping in the 3rd quarter worth approximately $619,000. Institutional investors and hedge funds own 46.52% of the company’s stock.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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