Eagle Bulk Shipping (NASDAQ:EGLE) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a report released on Wednesday. The firm set a “sell” rating on the shipping company’s stock.

EGLE has been the subject of several other research reports. BTIG Research restated a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Friday, January 5th. B. Riley boosted their price target on shares of Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Alliance Global Partners restated a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Monday, February 26th. Stifel Nicolaus restated a “hold” rating and issued a $55.00 price target (up previously from $54.00) on shares of Eagle Bulk Shipping in a research note on Friday, January 26th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $55.00 price target on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.75.

Eagle Bulk Shipping Price Performance

Shares of NASDAQ EGLE opened at $62.60 on Wednesday. The firm has a market cap of $692.98 million, a price-to-earnings ratio of 40.92 and a beta of 1.49. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. Eagle Bulk Shipping has a 52-week low of $39.15 and a 52-week high of $65.09. The business’s 50 day moving average is $61.98 and its two-hundred day moving average is $53.53.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its earnings results on Monday, March 4th. The shipping company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. The company had revenue of $104.59 million for the quarter, compared to analyst estimates of $76.16 million. Eagle Bulk Shipping had a return on equity of 4.62% and a net margin of 5.77%. Research analysts predict that Eagle Bulk Shipping will post 4.86 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Castor Maritime Inc. purchased 69,635 shares of Eagle Bulk Shipping stock in a transaction that occurred on Wednesday, April 3rd. The stock was purchased at an average cost of $62.65 per share, with a total value of $4,362,632.75. Following the completion of the transaction, the insider now directly owns 1,461,135 shares in the company, valued at $91,540,107.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Eagle Bulk Shipping

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighPoint Advisor Group LLC purchased a new stake in Eagle Bulk Shipping in the fourth quarter valued at $459,000. PenderFund Capital Management Ltd. purchased a new stake in Eagle Bulk Shipping in the fourth quarter valued at $161,000. Bardin Hill Management Partners LP purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $770,000. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $1,048,000. Finally, Versor Investments LP purchased a new stake in shares of Eagle Bulk Shipping in the fourth quarter valued at about $3,077,000. 70.60% of the stock is owned by hedge funds and other institutional investors.

Eagle Bulk Shipping Company Profile

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, and cement. It serves miners, producers, traders, and end users.