ValuEngine lowered shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Several other equities analysts have also recently issued reports on EGLE. BidaskClub cut Eagle Bulk Shipping from a buy rating to a hold rating in a research report on Thursday, June 28th. Noble Financial set a $6.00 price objective on Eagle Bulk Shipping and gave the company a buy rating in a research report on Thursday, August 9th. Maxim Group raised Eagle Bulk Shipping from a hold rating to a buy rating and upped their price objective for the company from $6.00 to $7.50 in a research report on Wednesday, July 25th. Finally, Zacks Investment Research cut Eagle Bulk Shipping from a hold rating to a sell rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Eagle Bulk Shipping presently has an average rating of Buy and a consensus target price of $6.86.

Shares of EGLE opened at $4.74 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48. 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 issued its quarterly earnings results on Tuesday, August 7th. The shipping company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. The company had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.76 million. As a group, sell-side analysts anticipate that Eagle Bulk Shipping will post 0.21 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGLE. Wells Fargo & Company MN lifted its holdings in shares of 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 valued at $112,000 after buying an additional 16,601 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of 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 valued at $146,000 after buying an additional 20,514 shares during the period. Royal Bank of Canada lifted its holdings in shares of 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 valued at $164,000 after buying an additional 33,116 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of 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 valued at $232,000 after buying an additional 26,441 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Eagle Bulk Shipping by 117.3% during the 1st quarter. Barclays PLC now owns 48,605 shares of the shipping company’s stock valued at $240,000 after buying an additional 26,238 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: What is the Dividend Aristocrat Index?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

Receive News & Ratings for Eagle Bulk Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bulk Shipping and related companies with MarketBeat.com's FREE daily email newsletter.