Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Receives Average Rating of “Buy” from Analysts

Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) have earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $69.25.

Several research analysts recently issued reports on EGLE shares. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, April 12th. TheStreet upgraded shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a research report on Friday, March 4th. B. Riley raised their price target on shares of 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, StockNews.com upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Tuesday, April 12th.

Shares of Eagle Bulk Shipping stock opened at $68.06 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.12. The firm has a fifty day moving average price of $59.89 and a 200 day moving average price of $49.07. Eagle Bulk Shipping has a 1 year low of $34.59 and a 1 year high of $70.98. The stock has a market cap of $927.86 million, a PE ratio of 5.72 and a beta of 1.31.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last issued its earnings results on Thursday, March 3rd. The shipping company reported $4.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.58 by ($1.30). Eagle Bulk Shipping had a return on equity of 34.61% and a net margin of 31.10%. The business had revenue of $161.49 million for the quarter, compared to analysts’ expectations of $152.49 million. During the same period last year, the business earned $0.01 EPS. As a group, equities analysts expect that Eagle Bulk Shipping will post 16.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Tuesday, March 15th were given a $2.05 dividend. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, March 14th. This represents a $8.20 annualized dividend and a dividend yield of 12.05%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is 68.91%.

In other news, CEO Gary Vogel sold 15,000 shares of Eagle Bulk Shipping stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $63.75, for a total value of $956,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Randee E. Day sold 1,000 shares of Eagle Bulk Shipping stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $60.49, for a total transaction of $60,490.00. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. American International Group Inc. lifted its stake in shares of Eagle Bulk Shipping by 4.8% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Eagle Bulk Shipping by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,991 shares of the shipping company’s stock worth $1,092,000 after buying an additional 249 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Eagle Bulk Shipping by 5.6% in the fourth quarter. Deutsche Bank AG now owns 5,434 shares of the shipping company’s stock worth $247,000 after buying an additional 290 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Eagle Bulk Shipping by 3.3% in the fourth quarter. Rhumbline Advisers now owns 10,157 shares of the shipping company’s stock worth $462,000 after buying an additional 320 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Eagle Bulk Shipping by 2.8% in the second quarter. Parametric Portfolio Associates LLC now owns 13,273 shares of the shipping company’s stock worth $628,000 after buying an additional 358 shares in the last quarter. 65.51% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bulk Shipping Company Profile (Get Rating)

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.

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