Several analysts have recently updated their ratings and price targets for Eagle Bulk Shipping (NASDAQ: EGLE):

  • 5/15/2018 – Eagle Bulk Shipping was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
  • 5/9/2018 – Eagle Bulk Shipping had its “hold” rating reaffirmed by analysts at Maxim Group. They now have a $6.00 price target on the stock. They wrote, “After the market close, Eagle Bulk Shipping (EGLE) reported mixed 1Q18 results; gross and net revenue beat our forecast, EBITDA missed and EPS was in line with our view. The company reported a fleet-wide net time charter-equivalent (TCE) rate of $11,052 per vessel/day in 1Q18, a 41% increase over the $7,825 per vessel/day achieved during 1Q17. The company preannounced that 70% of 2Q18 days have been fixed at a TCE rate of $11,234 per vessel/day which is in line with the 2Q18 avg. rate of $11,795 per vessel/day, and in line with our $11,358 per vessel/day estimate for 2Q18. Management will host an earnings call tomorrow morning at 8am ET..””
  • 5/8/2018 – Eagle Bulk Shipping was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Eagle Bulk Shipping is the largest U.S. based owner of Handymax dry bulk vessels. Handymax dry bulk vessels range in size from 35,000 to 60,000 deadweight tons, or dwt, and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. “
  • 5/2/2018 – Eagle Bulk Shipping was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/18/2018 – Eagle Bulk Shipping was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/2/2018 – Eagle Bulk Shipping was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

Shares of Eagle Bulk Shipping stock opened at $5.44 on Thursday. The company has a quick ratio of 2.47, a current ratio of 2.82 and a debt-to-equity ratio of 0.67. Eagle Bulk Shipping Inc. has a twelve month low of $5.37 and a twelve month high of $5.81. The stock has a market capitalization of $419.05 million, a P/E ratio of -12.95 and a beta of 2.24.

Eagle Bulk Shipping (NASDAQ:EGLE) last announced its quarterly earnings results on Wednesday, May 9th. The shipping company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Eagle Bulk Shipping had a negative return on equity of 3.76% and a negative net margin of 12.09%. The firm had revenue of $56.86 million during the quarter, compared to analyst estimates of $57.24 million. analysts forecast that Eagle Bulk Shipping Inc. will post 0.31 earnings per share for the current fiscal year.

In related news, major shareholder Goldentree Asset Management Lp sold 48,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, April 25th. The stock was sold at an average price of $5.23, for a total value of $251,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in EGLE. Wells Fargo & Company MN increased its stake in shares of Eagle Bulk Shipping by 278.0% in the 1st quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 16,601 shares in the last quarter. Jump Trading LLC purchased a new position in shares of Eagle Bulk Shipping in the 1st quarter valued at about $113,000. Citadel Advisors LLC purchased a new position in shares of Eagle Bulk Shipping in the 4th quarter valued at about $123,000. Two Sigma Advisers LP acquired a new stake in Eagle Bulk Shipping in the 4th quarter worth about $127,000. Finally, SG Americas Securities LLC acquired a new stake in Eagle Bulk Shipping in the 4th quarter worth about $171,000. Hedge funds and other institutional investors own 28.10% of the company’s stock.

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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