Zacks: Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Receives Consensus Rating of “Strong Buy” from Analysts
Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $7.00 for the company and are expecting 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.
Several research analysts have recently commented on EGLE shares. Zacks Investment Research downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
Shares of Eagle Bulk Shipping (NASDAQ:EGLE) traded up 2.09% during trading on Friday, reaching $4.39. The company’s stock had a trading volume of 310,928 shares. Eagle Bulk Shipping has a one year low of $4.06 and a one year high of $12.45. The stock’s 50 day moving average is $4.53 and its 200 day moving average is $5.18.
Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Monday, May 8th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.05. Eagle Bulk Shipping had a negative return on equity of 15.35% and a negative net margin of 131.02%. The firm had revenue of $45.86 million for the quarter, compared to the consensus estimate of $31.30 million. Equities research analysts anticipate that Eagle Bulk Shipping will post ($0.59) earnings per share for the current year.
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Large investors have recently modified their holdings of the company. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Eagle Bulk Shipping during the first quarter worth $172,000. Rhumbline Advisers bought a new position in shares of Eagle Bulk Shipping during the second quarter worth about $206,000. Segantii Capital Management Ltd increased its position in shares of 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 in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Eagle Bulk Shipping during the second quarter worth about $306,000. Finally, BlueCrest Capital Management Ltd increased its position in shares of 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 in the last quarter. 13.96% of the stock is owned by hedge funds and other institutional investors.
About Eagle Bulk Shipping
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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