Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have been given a consensus recommendation of “Buy” by the ten research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $7.40.

Several research firms recently issued reports on EGLE. BidaskClub lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. B. Riley began coverage on Eagle Bulk Shipping in a research report on Thursday, October 4th. They set a “buy” rating and a $8.50 price target on the stock. ValuEngine raised Eagle Bulk Shipping from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Noble Financial reissued a “buy” rating on shares of Eagle Bulk Shipping in a research report on Thursday, September 6th. Finally, Zacks Investment Research downgraded Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note on Friday, August 10th.

Shares of EGLE stock traded down $0.12 on Friday, hitting $4.90. 12,691 shares of the stock traded hands, compared to its average volume of 433,893. The company has a current ratio of 2.76, a quick ratio of 2.48 and a debt-to-equity ratio of 0.64. The firm has a market cap of $370.30 million, a P/E ratio of -11.98 and a beta of 1.73. Eagle Bulk Shipping has a 1-year low of $4.18 and a 1-year 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $57.73 million for the quarter, compared to analyst estimates of $57.76 million. Eagle Bulk Shipping had a negative net margin of 8.00% and a negative return on equity of 1.79%. On average, research analysts forecast that Eagle Bulk Shipping will post 0.21 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in Eagle Bulk Shipping by 278.0% during the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock worth $112,000 after buying an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Eagle Bulk Shipping by 319.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock worth $146,000 after buying an additional 20,514 shares during the last quarter. Royal Bank of Canada grew its stake in Eagle Bulk Shipping by 57,096.6% during the 1st quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock worth $164,000 after buying an additional 33,116 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Eagle Bulk Shipping by 162.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock worth $232,000 after buying an additional 26,441 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Eagle Bulk Shipping by 30.9% during the 2nd quarter. Rhumbline Advisers now owns 48,099 shares of the shipping company’s stock worth $262,000 after buying an additional 11,344 shares during the last quarter. Hedge funds and other institutional investors own 46.71% 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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