Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Receives Average Rating of “Hold” from Analysts

Eagle Bulk Shipping Inc. (NASDAQ:EGLEGet Free Report) has been given a consensus rating of “Hold” by the six analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.75.

A number of research analysts recently weighed in on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Friday, January 5th. Stifel Nicolaus reissued a “hold” rating and issued a $55.00 target price (up from $54.00) on shares of Eagle Bulk Shipping in a research note on Friday, January 26th. Alliance Global Partners reissued a “neutral” rating on shares of Eagle Bulk Shipping in a research note on Monday, February 26th. B. Riley raised their target price on shares of Eagle Bulk Shipping from $52.20 to $63.50 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $55.00 target price on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st.

Read Our Latest Stock Report on EGLE

Insider Activity

In other news, major shareholder Castor Maritime Inc. purchased 69,635 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, April 3rd. The shares were purchased at an average price of $62.65 per share, with a total value of $4,362,632.75. Following the transaction, the insider now owns 1,461,135 shares in the company, valued at $91,540,107.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Eagle Bulk Shipping

Several institutional investors have recently made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new stake in shares of Eagle Bulk Shipping during the 4th quarter valued at approximately $459,000. Vanguard Group Inc. raised its position in shares of Eagle Bulk Shipping by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 376,968 shares of the shipping company’s stock valued at $20,884,000 after buying an additional 23,845 shares during the period. Goldman Sachs Group Inc. increased its holdings in Eagle Bulk Shipping by 28.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 42,259 shares of the shipping company’s stock valued at $2,341,000 after purchasing an additional 9,328 shares during the last quarter. Legal & General Group Plc increased its holdings in Eagle Bulk Shipping by 2.4% in the 4th quarter. Legal & General Group Plc now owns 9,923 shares of the shipping company’s stock valued at $550,000 after purchasing an additional 234 shares during the last quarter. Finally, Barclays PLC increased its holdings in Eagle Bulk Shipping by 186.8% in the 4th quarter. Barclays PLC now owns 13,975 shares of the shipping company’s stock valued at $774,000 after purchasing an additional 9,103 shares during the last quarter. Hedge funds and other institutional investors own 70.60% of the company’s stock.

Eagle Bulk Shipping Stock Performance

Shares of Eagle Bulk Shipping stock opened at $62.60 on Monday. The firm has a market capitalization of $692.98 million, a PE ratio of 40.92 and a beta of 1.49. Eagle Bulk Shipping has a twelve month low of $39.15 and a twelve month high of $65.09. The firm’s 50-day moving average price is $61.50 and its 200 day moving average price is $53.12. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55.

Eagle Bulk Shipping (NASDAQ:EGLEGet Free Report) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. The firm had revenue of $104.59 million for the quarter, compared to analyst estimates of $76.16 million. Eagle Bulk Shipping had a net margin of 5.77% and a return on equity of 4.62%. On average, sell-side analysts predict that Eagle Bulk Shipping will post 4.86 EPS for the current fiscal year.

Eagle Bulk Shipping Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $0.10. Eagle Bulk Shipping’s payout ratio is presently 156.86%.

Eagle Bulk Shipping Company Profile

(Get Free Report

Eagle Bulk Shipping Inc engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, and cement. It serves miners, producers, traders, and end users.

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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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