Shares of Eagle Bulk Shipping Inc. (NASDAQ:EGLE) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.94.
EGLE has been the topic of a number of research reports. Zacks Investment Research cut Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. ValuEngine cut Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a report on Wednesday, September 16th. DNB Markets upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, July 29th. Finally, Noble Financial restated a “buy” rating and issued a $32.50 price target on shares of Eagle Bulk Shipping in a report on Wednesday, September 16th.
In related news, CEO Gary Vogel bought 9,000 shares of the stock in a transaction on Thursday, September 17th. The shares were purchased at an average price of $17.79 per share, for a total transaction of $160,110.00. 4.10% of the stock is currently owned by corporate insiders.
Shares of EGLE stock opened at $16.33 on Thursday. The company has a market cap of $179.68 million, a price-to-earnings ratio of -4.24 and a beta of 1.17. The stock has a 50 day simple moving average of $17.97 and a 200-day simple moving average of $15.35. Eagle Bulk Shipping has a 12-month low of $8.89 and a 12-month high of $34.13. The company has a current ratio of 1.60, a quick ratio of 1.48 and a debt-to-equity ratio of 1.06.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Thursday, August 6th. The shipping company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.42). The firm had revenue of $33.62 million during the quarter, compared to analyst estimates of $43.94 million. Eagle Bulk Shipping had a negative return on equity of 8.10% and a negative net margin of 14.33%. On average, equities analysts forecast that Eagle Bulk Shipping will post -3.54 earnings per share for the current fiscal year.
About Eagle Bulk Shipping
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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