Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.88.

Several equities research analysts have recently weighed in on EGLE shares. BidaskClub cut Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Wednesday, January 16th. Maxim Group reiterated a “buy” rating and set a $7.00 price target on shares of Eagle Bulk Shipping in a research report on Wednesday, January 23rd. Morgan Stanley set a $5.00 price target on Eagle Bulk Shipping and gave the company a “hold” rating in a research report on Friday, February 15th. Finally, TheStreet upgraded Eagle Bulk Shipping from a “d+” rating to a “c” rating in a research report on Wednesday, March 6th.

Shares of EGLE opened at $4.89 on Friday. Eagle Bulk Shipping has a twelve month low of $3.85 and a twelve month high of $6.14. The stock has a market cap of $374.68 million, a PE ratio of 27.17 and a beta of 1.14. The company has a current ratio of 1.88, a quick ratio of 1.62 and a debt-to-equity ratio of 0.63.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Tuesday, March 5th. The shipping company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Eagle Bulk Shipping had a return on equity of 2.67% and a net margin of 4.06%.

In other news, major shareholder Oaktree Capital Group Holdings bought 32,516 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of $4.69 per share, with a total value of $152,500.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Goldentree Asset Management Lp bought 81,400 shares of the business’s stock in a transaction on Friday, January 25th. The stock was purchased at an average cost of $4.47 per share, with a total value of $363,858.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,816,011 shares of company stock worth $8,068,641. 3.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EGLE. Bank of New York Mellon Corp boosted its stake in Eagle Bulk Shipping by 44.0% in the third quarter. Bank of New York Mellon Corp now owns 174,314 shares of the shipping company’s stock worth $980,000 after buying an additional 53,297 shares in the last quarter. Trexquant Investment LP purchased a new stake in Eagle Bulk Shipping in the third quarter worth approximately $218,000. Credit Suisse AG boosted its stake in Eagle Bulk Shipping by 746.3% in the third quarter. Credit Suisse AG now owns 123,285 shares of the shipping company’s stock worth $692,000 after buying an additional 108,717 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Eagle Bulk Shipping by 34.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,234,510 shares of the shipping company’s stock worth $6,938,000 after buying an additional 316,274 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Eagle Bulk Shipping in the third quarter worth approximately $226,000. 81.56% of the stock is owned by institutional investors and hedge funds.

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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