Maxim Group restated their hold rating on shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) in a report published on Thursday, November 2nd. Maxim Group currently has a $4.50 price objective on the shipping company’s stock.
“Eagle Bulk Shipping (EGLE) reported 3Q17 results this evening, after the close. The company reported revenue of $62.7 million, net loss of ($10.3 million), loss per share of ($0.15), and EBITDA of $7.3 million. The company reported a fleet-wide net time charter-equivalent (TCE) rate of $8,660 per vessel/day during 3Q17 vs. $5,669 per vessel/day during 3Q16.”,” the firm’s analyst commented.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Eagle Bulk Shipping from a hold rating to a buy rating and set a $5.00 price objective for the company in a research note on Monday, August 7th. ValuEngine upgraded Eagle Bulk Shipping from a strong sell rating to a sell rating in a research report on Thursday, August 10th. Finally, BidaskClub cut Eagle Bulk Shipping from a hold rating to a sell rating in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $5.67.
Eagle Bulk Shipping (NASDAQ EGLE) opened at $4.40 on Thursday. Eagle Bulk Shipping has a 12 month low of $4.22 and a 12 month high of $7.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.75 and a current ratio of 4.25.
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A number of institutional investors and hedge funds have recently modified their holdings of EGLE. Goldman Sachs Group Inc. acquired a new stake in Eagle Bulk Shipping in the first quarter valued at approximately $821,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in shares of 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 acquiring an additional 60,000 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in shares of Eagle Bulk Shipping in the second quarter worth approximately $306,000. Rhumbline Advisers acquired a new stake in shares of Eagle Bulk Shipping in the second quarter worth approximately $206,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Eagle Bulk Shipping in the second quarter worth approximately $496,000. 17.74% of the stock is currently owned by institutional investors.
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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