Eagle Bulk Shipping (NASDAQ:EGLE) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other brokerages have also commented on EGLE. DNB Markets raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, July 29th. Evercore ISI reissued an “outperform” rating and set a $21.00 price objective on shares of Eagle Bulk Shipping in a report on Wednesday, May 20th. Finally, Zacks Investment Research lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $25.26.

Shares of EGLE opened at $17.37 on Wednesday. The business’s 50-day moving average price is $17.85 and its 200-day moving average price is $15.26. Eagle Bulk Shipping has a twelve month low of $2.53 and a twelve month high of $36.05. The stock has a market cap of $1.34 billion, a PE ratio of -31.58 and a beta of 1.19. The company has a quick ratio of 1.48, a current ratio of 1.60 and a debt-to-equity ratio of 1.06.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Thursday, August 6th. The shipping company reported ($1.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.54) by ($0.42). Eagle Bulk Shipping had a negative return on equity of 8.10% and a negative net margin of 14.33%. The business had revenue of $33.62 million for the quarter, compared to analysts’ expectations of $43.94 million. Analysts expect that Eagle Bulk Shipping will post -0.5 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in Eagle Bulk Shipping by 78.7% in the first quarter. SG Americas Securities LLC now owns 17,967 shares of the shipping company’s stock worth $33,000 after buying an additional 7,915 shares in the last quarter. Bank of America Corp DE boosted its stake in Eagle Bulk Shipping by 2.0% in the second quarter. Bank of America Corp DE now owns 593,196 shares of the shipping company’s stock worth $1,299,000 after buying an additional 11,710 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Eagle Bulk Shipping by 51.3% in the first quarter. Alliancebernstein L.P. now owns 40,700 shares of the shipping company’s stock worth $75,000 after buying an additional 13,800 shares in the last quarter. Jane Street Group LLC purchased a new stake in Eagle Bulk Shipping in the second quarter worth approximately $34,000. Finally, Victory Capital Management Inc. boosted its stake in Eagle Bulk Shipping by 4.8% in the first quarter. Victory Capital Management Inc. now owns 429,804 shares of the shipping company’s stock worth $795,000 after buying an additional 19,604 shares in the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.

Eagle Bulk Shipping Company Profile

Eagle Bulk Shipping, Inc is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.

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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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