Eagle Bulk Shipping Inc (EGLE) Receives Consensus Rating of “Strong Buy” from Analysts
Shares of Eagle Bulk Shipping Inc (NASDAQ:EGLE) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price target of $7.00 for the company and are anticipating that the company will post ($0.17) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Eagle Bulk Shipping an industry rank of 104 out of 265 based on the ratings given to related companies.
Several research firms recently commented on EGLE. Zacks Investment Research raised shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Friday, March 24th. Seaport Global Securities reissued a “buy” rating and set a $7.00 target price on shares of Eagle Bulk Shipping in a research note on Thursday, March 9th.
Shares of Eagle Bulk Shipping (NASDAQ:EGLE) traded up 1.04% on Monday, hitting $4.88. 64,941 shares of the stock were exchanged. The firm’s 50-day moving average is $5.15 and its 200-day moving average is $5.68. Eagle Bulk Shipping has a one year low of $4.06 and a one year high of $12.96.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its earnings results on Monday, May 8th. The shipping company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.05. Eagle Bulk Shipping had a negative net margin of 148.42% and a negative return on equity of 29.84%. The business had revenue of $45.86 million during the quarter, compared to analyst estimates of $31.30 million. On average, analysts expect that Eagle Bulk Shipping will post ($0.52) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Eagle Bulk Shipping by 5,402.5% in the first quarter. Morgan Stanley now owns 149,502 shares of the shipping company’s stock valued at $851,000 after buying an additional 146,785 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Eagle Bulk Shipping by 166.0% in the first quarter. Dimensional Fund Advisors LP now owns 42,218 shares of the shipping company’s stock valued at $240,000 after buying an additional 26,346 shares in the last quarter. Geode Capital Management LLC raised its stake in Eagle Bulk Shipping by 65.5% in the first quarter. Geode Capital Management LLC now owns 35,557 shares of the shipping company’s stock valued at $202,000 after buying an additional 14,066 shares in the last quarter. Vanguard Group Inc. raised its stake in Eagle Bulk Shipping by 99.6% in the first quarter. Vanguard Group Inc. now owns 571,886 shares of the shipping company’s stock valued at $3,254,000 after buying an additional 285,381 shares in the last quarter. Finally, Segantii Capital Management Ltd raised its stake in Eagle Bulk Shipping by 985.2% in the first quarter. Segantii Capital Management Ltd now owns 43,407 shares of the shipping company’s stock valued at $247,000 after buying an additional 39,407 shares in the last quarter. 12.19% of the stock is owned by institutional investors and hedge funds.
Eagle Bulk Shipping Company Profile
Eagle Bulk Shipping Inc is engaged primarily in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. The Company operates in the Handymax sector of the dry bulk industry, with particular emphasis on the Supramax class of vessels.
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