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Eagle Bulk Shipping Raised To Sell At BidasClub

Several other research firms have also issued reports on EGLE. Morgan Stanley initiated coverage on Eagle Bulk Shipping in a research note on Monday, June 18th. They set an equal weight rating and a $6.50 target price on the stock. DNB Markets initiated coverage on Eagle Bulk Shipping in a report on Monday, June 18th. They set a buy rating on the stock. ValuEngine upgraded Eagle Bulk Shipping from a hold rating to a buy rating in a report on Saturday, June 2nd. Zacks Investment Research downgraded Eagle Bulk Shipping from a hold rating to a sell rating in a report on Monday, July 23rd. Finally, Maxim Group upgraded Eagle Bulk Shipping from a hold rating to a buy rating and upped their price target for the stock from $6.00 to $7.50 in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $6.86.

The company’s stock had a trading volume of 236,654 shares, compared to its average volume of 381,670. Eagle Bulk Shipping has a twelve month low of $4.18 and a twelve month high of $6.14. The firm has a market cap of $410.47 million, a PE ratio of -13.48 and a beta of 1.73. The company has a quick ratio of 2.48, a current ratio of 2.76 and a debt-to-equity ratio of 0.64.

Eagle Bulk Shipping (NASDAQ:EGLE) last posted its earnings results on Tuesday, August 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Eagle Bulk Shipping had a negative return on equity of 1.79% and a negative net margin of 8.00%. The firm had revenue of $57.73 million for the quarter, compared to analyst estimates of $57.76 million. As a group, equities analysts expect that Eagle Bulk Shipping will post 0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Eagle Bulk Shipping by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 584,217 shares of the shipping company’s stock valued at $3,179,000 after purchasing an additional 10,288 shares during the period. Rhumbline Advisers boosted its position in shares of Eagle Bulk Shipping by 30.9% in the 2nd quarter. Rhumbline Advisers now owns 48,099 shares of the shipping company’s stock valued at $262,000 after purchasing an additional 11,344 shares during the period. Trexquant Investment LP boosted its position in shares of Eagle Bulk Shipping by 31.3% in the 1st quarter. Trexquant Investment LP now owns 62,143 shares of the shipping company’s stock valued at $308,000 after purchasing an additional 14,812 shares during the period. Wells Fargo & Company MN boosted its position 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 during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Eagle Bulk Shipping by 29.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 83,500 shares of the shipping company’s stock valued at $455,000 after purchasing an additional 19,000 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.
Source: Eagle Bulk Shipping Company

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