Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Given Consensus Rating of “Hold” by Analysts

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.73.

A number of brokerages have recently commented on EGLE. ValuEngine downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Maxim Group set a $7.00 target price on shares of Eagle Bulk Shipping and gave the company a “buy” rating in a research note on Wednesday, May 8th. BidaskClub downgraded shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Noble Financial reissued a “buy” rating and issued a $6.40 target price on shares of Eagle Bulk Shipping in a research note on Friday, July 26th.

NASDAQ EGLE traded down $0.03 during mid-day trading on Friday, reaching $4.19. 5,291 shares of the stock were exchanged, compared to its average volume of 998,152. Eagle Bulk Shipping has a 1-year low of $3.85 and a 1-year high of $5.98. The firm’s fifty day simple moving average is $4.96. The firm has a market capitalization of $308.74 million, a PE ratio of 23.67 and a beta of 1.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.03 and a quick ratio of 0.85.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings results on Monday, July 29th. The shipping company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The company had revenue of $48.48 million for the quarter, compared to analysts’ expectations of $49.96 million. Eagle Bulk Shipping had a return on equity of 0.27% and a net margin of 1.03%. On average, analysts forecast that Eagle Bulk Shipping will post -0.04 EPS for the current fiscal year.

In related news, CEO Gary Vogel sold 7,250 shares of Eagle Bulk Shipping stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $5.59, for a total transaction of $40,527.50. Following the sale, the chief executive officer now owns 1,105,432 shares of the company’s stock, valued at approximately $6,179,364.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Oaktree Capital Group Holdings purchased 310,056 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $4.20 per share, for a total transaction of $1,302,235.20. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,244,156 shares of company stock worth $14,839,990. Insiders own 4.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP grew its holdings in Eagle Bulk Shipping by 0.6% during the 1st quarter. Oaktree Capital Management LP now owns 26,267,467 shares of the shipping company’s stock worth $122,143,000 after acquiring an additional 157,931 shares in the last quarter. BlackRock Inc. grew its holdings in Eagle Bulk Shipping by 30.7% during the 2nd quarter. BlackRock Inc. now owns 3,323,264 shares of the shipping company’s stock worth $17,414,000 after acquiring an additional 780,881 shares in the last quarter. Royce & Associates LP grew its holdings in Eagle Bulk Shipping by 14.3% during the 1st quarter. Royce & Associates LP now owns 2,031,307 shares of the shipping company’s stock worth $9,446,000 after acquiring an additional 253,833 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Eagle Bulk Shipping by 27.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,549 shares of the shipping company’s stock worth $7,231,000 after acquiring an additional 334,039 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Eagle Bulk Shipping by 14.6% during the 4th quarter. Geode Capital Management LLC now owns 752,393 shares of the shipping company’s stock worth $3,468,000 after acquiring an additional 95,850 shares in the last quarter. 84.20% of the stock is owned by 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.

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