Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned an average recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.40.

Several research analysts have commented on EGLE shares. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Friday, August 10th. BidaskClub cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. ValuEngine cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Noble Financial reiterated a “buy” rating on shares of Eagle Bulk Shipping in a report on Thursday, September 6th. Finally, B. Riley started coverage on shares of Eagle Bulk Shipping in a report on Thursday, October 4th. They set a “buy” rating and a $8.50 price target for the company.

NASDAQ EGLE traded up $0.03 on Monday, hitting $4.77. 328,285 shares of the stock were exchanged, compared to its average volume of 424,999. The company has a quick ratio of 1.91, a current ratio of 2.16 and a debt-to-equity ratio of 0.63. Eagle Bulk Shipping has a fifty-two week low of $4.22 and a fifty-two week high of $6.14. The stock has a market capitalization of $346.20 million, a PE ratio of 67.71 and a beta of 1.83.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Tuesday, November 6th. The shipping company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Eagle Bulk Shipping had a negative net margin of 3.52% and a positive return on equity of 0.96%. The company had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $57.49 million. On average, equities research analysts expect that Eagle Bulk Shipping will post 0.2 earnings per share for the current fiscal year.

In related news, major shareholder Oaktree Capital Group Holdings acquired 1,220,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, November 21st. The stock was acquired at an average price of $4.57 per share, for a total transaction of $5,575,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Goldentree Asset Management Lp acquired 90,030 shares of Eagle Bulk Shipping stock in a transaction dated Monday, November 19th. The shares were bought at an average price of $4.53 per share, with a total value of $407,835.90. The disclosure for this purchase can be found here. Insiders have bought a total of 2,116,994 shares of company stock valued at $9,680,397 in the last 90 days. Insiders own 3.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new stake in shares of Eagle Bulk Shipping during the 3rd quarter worth approximately $109,000. Tower Research Capital LLC TRC lifted its position 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 worth $146,000 after buying an additional 20,514 shares during the last quarter. Royal Bank of Canada lifted its position 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 worth $164,000 after buying an additional 33,116 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Eagle Bulk Shipping during the 3rd quarter worth approximately $218,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Eagle Bulk Shipping during the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 47.08% 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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