Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
EGLE has been the subject of a number of other reports. Zacks Investment Research upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, April 12th. B. Riley upped their price target on Eagle Bulk Shipping from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, March 7th. Finally, TheStreet upgraded Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research report on Friday, March 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $69.25.
Shares of Eagle Bulk Shipping stock opened at $69.57 on Wednesday. The business has a 50 day simple moving average of $60.76 and a two-hundred day simple moving average of $49.36. Eagle Bulk Shipping has a 12 month low of $36.18 and a 12 month high of $72.24. The stock has a market capitalization of $948.45 million, a P/E ratio of 5.85 and a beta of 1.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.12.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last announced its earnings results on Thursday, March 3rd. The shipping company reported $4.28 EPS for the quarter, missing analysts’ consensus estimates of $5.58 by ($1.30). Eagle Bulk Shipping had a net margin of 31.10% and a return on equity of 34.61%. The firm had revenue of $161.49 million for the quarter, compared to analyst estimates of $152.49 million. During the same period in the previous year, the company earned $0.01 EPS. As a group, research analysts anticipate that Eagle Bulk Shipping will post 16.26 EPS for the current fiscal year.
In other news, Director Randee E. Day sold 1,000 shares of Eagle Bulk Shipping stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $60.49, for a total transaction of $60,490.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary Vogel sold 29,441 shares of Eagle Bulk Shipping stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $67.66, for a total value of $1,991,978.06. Following the sale, the chief executive officer now owns 167,686 shares in the company, valued at approximately $11,345,634.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,441 shares of company stock valued at $3,008,718. Company insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp purchased a new position in shares of Eagle Bulk Shipping during the first quarter worth about $51,000. Citigroup Inc. grew its holdings in shares of Eagle Bulk Shipping by 161.8% during the third quarter. Citigroup Inc. now owns 1,076 shares of the shipping company’s stock worth $54,000 after buying an additional 665 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Eagle Bulk Shipping during the third quarter worth about $161,000. Virtu Financial LLC purchased a new position in shares of Eagle Bulk Shipping during the fourth quarter worth about $207,000. Finally, American International Group Inc. grew its holdings in shares of Eagle Bulk Shipping by 4.8% during the third quarter. American International Group Inc. now owns 4,891 shares of the shipping company’s stock worth $247,000 after buying an additional 222 shares during the last quarter. 65.51% of the stock is currently owned by hedge funds and other institutional investors.
About Eagle Bulk Shipping
Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement, and forest products. It serves miners, producers, traders, and end users.