Eagle Bulk Shipping (EGLE) Upgraded by BidaskClub to Sell

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

EGLE has been the subject of several other reports. Maxim Group raised shares of Eagle Bulk Shipping from a hold rating to a buy rating and boosted their target price for the stock from $6.00 to $7.50 in a research report on Wednesday, July 25th. ValuEngine downgraded shares of Eagle Bulk Shipping from a strong-buy rating to a buy rating in a research report on Thursday, October 25th. Zacks Investment Research downgraded shares of Eagle Bulk Shipping from a hold rating to a sell rating in a research report on Friday, August 10th. Noble Financial reissued a buy rating on shares of Eagle Bulk Shipping in a research report on Thursday, September 6th. Finally, B. Riley assumed coverage on shares of Eagle Bulk Shipping in a research report on Thursday, October 4th. They issued a buy rating and a $8.50 target price for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $6.86.

EGLE stock traded down $0.03 during trading hours on Friday, hitting $5.07. The company’s stock had a trading volume of 208,560 shares, compared to its average volume of 296,734. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.76 and a quick ratio of 2.48. Eagle Bulk Shipping has a 12 month low of $4.18 and a 12 month high of $6.14.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, August 7th. The shipping company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $57.73 million during the quarter, compared to the consensus estimate of $57.76 million. Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. Research analysts anticipate that Eagle Bulk Shipping will post 0.21 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Eagle Bulk Shipping by 278.0% in the first quarter. Wells Fargo & Company MN now owns 22,573 shares of the shipping company’s stock worth $112,000 after buying an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Eagle Bulk Shipping by 319.0% in the second quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock worth $146,000 after buying an additional 20,514 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Eagle Bulk Shipping by 57,096.6% in the first quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock worth $164,000 after buying an additional 33,116 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Eagle Bulk Shipping by 162.6% in the second quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock worth $232,000 after buying an additional 26,441 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Eagle Bulk Shipping by 30.9% in the second quarter. Rhumbline Advisers now owns 48,099 shares of the shipping company’s stock worth $262,000 after buying an additional 11,344 shares during the last quarter. Institutional investors and hedge funds own 46.69% of the company’s stock.

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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