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

Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Rating) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.50.

Several analysts have recently issued reports on EGLE shares. Stifel Nicolaus started coverage on Eagle Bulk Shipping in a report on Thursday, September 29th. They set a “buy” rating and a $62.00 price objective on the stock. Noble Financial reaffirmed a “buy” rating and set a $84.00 price objective on shares of Eagle Bulk Shipping in a report on Monday, November 7th. StockNews.com initiated coverage on Eagle Bulk Shipping in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Jefferies Financial Group decreased their price target on Eagle Bulk Shipping from $64.00 to $60.00 in a report on Monday, September 26th. Finally, B. Riley decreased their price target on Eagle Bulk Shipping from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 10th.

Insiders Place Their Bets

In other news, CEO Gary Vogel sold 15,000 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $50.79, for a total transaction of $761,850.00. Following the transaction, the chief executive officer now owns 147,521 shares of the company’s stock, valued at approximately $7,492,591.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Eagle Bulk Shipping

A number of hedge funds and other institutional investors have recently made changes to their positions in EGLE. Worth Asset Management LLC bought a new position in shares of Eagle Bulk Shipping during the 4th quarter worth $25,000. SeaCrest Wealth Management LLC bought a new stake in Eagle Bulk Shipping during the second quarter valued at about $29,000. Strs Ohio bought a new stake in Eagle Bulk Shipping during the third quarter valued at about $38,000. Point72 Hong Kong Ltd bought a new stake in Eagle Bulk Shipping during the third quarter valued at about $40,000. Finally, New York State Teachers Retirement System bought a new stake in Eagle Bulk Shipping during the second quarter valued at about $42,000. Institutional investors own 79.88% of the company’s stock.

Eagle Bulk Shipping Stock Up 2.9 %

Shares of EGLE opened at $52.74 on Wednesday. The stock has a market capitalization of $721.54 million, a price-to-earnings ratio of 2.75 and a beta of 1.32. Eagle Bulk Shipping has a 1 year low of $38.10 and a 1 year high of $78.75. The business’s 50 day simple moving average is $50.82 and its 200-day simple moving average is $48.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.06 and a quick ratio of 1.87.

Eagle Bulk Shipping (NASDAQ:EGLEGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The shipping company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.31 by $0.27. The business had revenue of $144.52 million for the quarter, compared to analysts’ expectations of $136.83 million. Eagle Bulk Shipping had a return on equity of 39.29% and a net margin of 41.46%. As a group, equities analysts expect that Eagle Bulk Shipping will post 16.14 earnings per share for the current fiscal year.

Eagle Bulk Shipping Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Tuesday, November 15th were paid a $1.80 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $7.20 dividend on an annualized basis and a yield of 13.65%. Eagle Bulk Shipping’s payout ratio is 37.48%.

About Eagle Bulk Shipping

(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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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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