BidaskClub upgraded shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a strong sell rating to a sell rating in a research report report published on Thursday morning.

Other analysts also recently issued reports about the company. DNB Markets initiated coverage on Eagle Bulk Shipping in a research report on Monday, June 18th. They set a buy rating for the company. ValuEngine upgraded Eagle Bulk Shipping from a hold rating to a buy rating in a research report on Saturday, June 2nd. Maxim Group upgraded Eagle Bulk Shipping from a hold rating to a buy rating and lifted their target price for the stock from $6.00 to $7.50 in a research report on Wednesday, July 25th. Noble Financial set a $6.00 target price on Eagle Bulk Shipping and gave the stock a buy rating in a research report on Thursday, August 9th. Finally, Morgan Stanley initiated coverage on Eagle Bulk Shipping in a research report on Monday, June 18th. They set an equal weight rating and a $6.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $6.58.

NASDAQ:EGLE opened at $5.63 on Thursday. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $6.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.48 and a current ratio of 2.76.

Eagle Bulk Shipping (NASDAQ:EGLE) last released its earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. The business had revenue of $57.73 million for the quarter, compared to the consensus estimate of $57.76 million. equities research analysts forecast that Eagle Bulk Shipping will post 0.2 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Eagle Bulk Shipping by 408.3% during the second quarter. Acadian Asset Management LLC now owns 310,329 shares of the shipping company’s stock valued at $1,688,000 after buying an additional 249,276 shares during the period. Wells Fargo & Company MN increased its stake in shares of Eagle Bulk Shipping by 278.0% during the first quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after buying an additional 16,601 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Eagle Bulk Shipping during the second quarter valued at $1,174,000. Barclays PLC increased its stake in shares of Eagle Bulk Shipping by 117.3% during the first quarter. Barclays PLC now owns 48,605 shares of the shipping company’s stock valued at $240,000 after buying an additional 26,238 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Eagle Bulk Shipping by 92.3% during the second quarter. Oppenheimer & Co. Inc. now owns 97,775 shares of the shipping company’s stock valued at $532,000 after buying an additional 46,925 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

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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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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