BidaskClub upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a strong sell rating to a sell rating in a research note released on Thursday.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Eagle Bulk Shipping from a hold rating to a sell rating in a research note on Monday, July 2nd. Noble Financial set a $6.00 price target on shares of Eagle Bulk Shipping and gave the stock a buy rating in a research note on Thursday, August 9th. Maxim Group raised shares of Eagle Bulk Shipping from a hold rating to a buy rating and increased their price target for the stock from $6.00 to $7.50 in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a hold rating to a sell rating in a research note on Friday, August 10th. Finally, Evercore ISI began coverage on shares of Eagle Bulk Shipping in a research note on Tuesday, May 29th. They set an outperform rating and a $7.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $6.58.

NASDAQ:EGLE traded down $0.01 during trading hours on Thursday, reaching $5.60. 5,619 shares of the company were exchanged, compared to its average volume of 272,972. The company has a quick ratio of 2.48, a current ratio of 2.76 and a debt-to-equity ratio of 0.64. The company has a market cap of $409.01 million, a P/E ratio of -13.30 and a beta of 2.22. 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 posted its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.76 million. Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. research analysts forecast that Eagle Bulk Shipping will post 0.2 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Eagle Bulk Shipping by 408.3% in the 2nd quarter. Acadian Asset Management LLC now owns 310,329 shares of the shipping company’s stock valued at $1,688,000 after acquiring an additional 249,276 shares during the period. Wells Fargo & Company MN raised its stake in shares of Eagle Bulk Shipping by 278.0% in the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 16,601 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Eagle Bulk Shipping in the 2nd quarter valued at $1,174,000. Barclays PLC raised its stake in shares of Eagle Bulk Shipping by 117.3% in the 1st quarter. Barclays PLC now owns 48,605 shares of the shipping company’s stock valued at $240,000 after acquiring an additional 26,238 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Eagle Bulk Shipping by 92.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 97,775 shares of the shipping company’s stock valued at $532,000 after acquiring an additional 46,925 shares during the period. 46.71% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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