Eagle Bulk Shipping (NASDAQ:EGLE) Trading 4.2% Higher

Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) traded up 4.2% on Tuesday . The company traded as high as $46.51 and last traded at $46.40. 1,503 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 355,389 shares. The stock had previously closed at $44.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Alliance Global Partners assumed coverage on Eagle Bulk Shipping in a research note on Wednesday, August 3rd. They issued a “buy” rating and a $85.00 price objective for the company. Clarkson Capital reaffirmed a “buy” rating on shares of Eagle Bulk Shipping in a research note on Tuesday, June 14th. Jefferies Financial Group assumed coverage on Eagle Bulk Shipping in a research note on Wednesday, July 20th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, StockNews.com cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Eagle Bulk Shipping Stock Performance

The stock has a market capitalization of $629.51 million, a PE ratio of 2.38 and a beta of 1.38. The stock has a fifty day moving average of $48.29 and a 200-day moving average of $57.68. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.42.

Eagle Bulk Shipping Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Tuesday, August 16th were issued a $2.20 dividend. The ex-dividend date was Monday, August 15th. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a yield of 19.14%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is 45.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EGLE. SeaCrest Wealth Management LLC purchased a new stake in Eagle Bulk Shipping during the 2nd quarter worth about $29,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Eagle Bulk Shipping during the 1st quarter worth about $31,000. Worth Asset Management LLC purchased a new stake in Eagle Bulk Shipping during the 1st quarter worth about $35,000. New York State Teachers Retirement System purchased a new stake in Eagle Bulk Shipping during the 2nd quarter worth about $42,000. Finally, Fifth Third Bancorp purchased a new stake in Eagle Bulk Shipping during the 1st quarter worth about $51,000. 86.73% 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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