A number of other analysts have also recently issued reports on EGLE. 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. ValuEngine upgraded shares of Zuora from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. Finally, Noble Financial set a $20.00 target price on shares of TrovaGene and gave the company an “outperform” rating in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Eagle Bulk Shipping currently has a consensus rating of “Buy” and a consensus target price of $6.68.
EGLE stock opened at $5.65 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.30. The firm has a market capitalization of $413.33 million, a PE ratio of 37.67 and a beta of 1.29. The stock’s 50 day moving average is $4.99. Eagle Bulk Shipping has a 52 week low of $3.85 and a 52 week high of $6.09.
Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, May 7th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.10. The firm had revenue of $51.48 million during the quarter, compared to analysts’ expectations of $47.72 million. Eagle Bulk Shipping had a net margin of 4.07% and a return on equity of 2.25%. On average, analysts predict that Eagle Bulk Shipping will post 0.09 EPS for the current fiscal year.
In related news, major shareholder Oaktree Capital Group Holdings bought 560,600 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average price of $4.70 per share, with a total value of $2,634,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary Vogel sold 7,250 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $5.59, for a total transaction of $40,527.50. Following the transaction, the chief executive officer now directly owns 1,105,432 shares in the company, valued at approximately $6,179,364.88. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 734,100 shares of company stock valued at $3,437,755 and sold 84,890 shares valued at $463,262. 4.10% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its holdings in Eagle Bulk Shipping by 465.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,943 shares of the shipping company’s stock valued at $46,000 after buying an additional 8,185 shares during the period. West Chester Capital Advisors Inc. bought a new stake in Eagle Bulk Shipping in the 1st quarter valued at $47,000. Mraz Amerine & Associates Inc. bought a new stake in Eagle Bulk Shipping in the 1st quarter valued at $87,000. Paloma Partners Management Co bought a new stake in Eagle Bulk Shipping in the 4th quarter valued at $153,000. Finally, Rhumbline Advisers increased its holdings in Eagle Bulk Shipping by 42.7% in the 4th quarter. Rhumbline Advisers now owns 68,656 shares of the shipping company’s stock valued at $317,000 after buying an additional 20,557 shares during the period. 84.11% of the stock is currently 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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