Brokerages Set $6.33 Target Price for Eagle Bulk Shipping Inc. (EGLE)
Eagle Bulk Shipping Inc. (NASDAQ:EGLE) has earned a consensus broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company. Eagle Bulk Shipping’s rating score has declined by 67% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus price target of $6.33 for the company and are forecasting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned Eagle Bulk Shipping an industry rank of 233 out of 265 based on the ratings given to its competitors.
A number of brokerages have weighed in on EGLE. BidaskClub cut shares of Eagle Bulk Shipping from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine cut shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Maxim Group set a $5.00 target price on shares of Eagle Bulk Shipping and gave the stock a “hold” rating in a research report on Wednesday, August 30th.
Eagle Bulk Shipping (NASDAQ EGLE) remained flat at $$4.40 during trading on Monday. 399,065 shares of the company were exchanged, compared to its average volume of 302,188. Eagle Bulk Shipping has a one year low of $4.22 and a one year high of $7.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.25 and a quick ratio of 3.75.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC acquired a new position in shares of Eagle Bulk Shipping during the third quarter worth $13,609,000. Mangrove Partners lifted its position in shares of Eagle Bulk Shipping by 1,426.5% during the third quarter. Mangrove Partners now owns 2,377,767 shares of the shipping company’s stock worth $10,771,000 after purchasing an additional 2,222,000 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Eagle Bulk Shipping during the third quarter worth $1,092,000. California State Teachers Retirement System acquired a new position in shares of Eagle Bulk Shipping during the second quarter worth $322,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Eagle Bulk Shipping by 5,708.4% during the second quarter. The Manufacturers Life Insurance Company now owns 34,386 shares of the shipping company’s stock worth $162,000 after purchasing an additional 33,794 shares in the last quarter. 17.74% of the stock is currently 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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