Investment analysts at DNB Markets initiated coverage on shares of Eagle Bulk Shipping (NASDAQ:EGLE) in a note issued to investors on Monday, June 18th. The brokerage set a “buy” rating on the shipping company’s stock.

Several other research analysts also recently issued reports on the company. Morgan Stanley began coverage on Eagle Bulk Shipping in a research report on Monday, June 18th. They set an “equal weight” rating and a $6.50 price objective for the company. BidaskClub downgraded Eagle Bulk Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. ValuEngine upgraded Eagle Bulk Shipping from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Evercore ISI began coverage on Eagle Bulk Shipping in a report on Tuesday, May 29th. They issued an “outperform” rating and a $7.50 price target for the company. Finally, Zacks Investment Research upgraded Eagle Bulk Shipping from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $6.33.

EGLE stock opened at $6.00 on Monday. 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 has a 12-month low of $4.18 and a 12-month high of $6.14.

Eagle Bulk Shipping (NASDAQ:EGLE) last issued its quarterly earnings data on Wednesday, May 9th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $57.24 million. equities analysts forecast that Eagle Bulk Shipping will post 0.31 EPS for the current year.

In other Eagle Bulk Shipping news, major shareholder Goldentree Asset Management Lp sold 48,000 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EGLE. SG Americas Securities LLC purchased a new stake in shares of Eagle Bulk Shipping during the 4th quarter valued at $171,000. Royce & Associates LP grew its stake in shares of Eagle Bulk Shipping by 94.9% during the 4th quarter. Royce & Associates LP now owns 469,804 shares of the shipping company’s stock valued at $2,105,000 after buying an additional 228,804 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Eagle Bulk Shipping during the 4th quarter valued at $123,000. Renaissance Technologies LLC grew its stake in shares of Eagle Bulk Shipping by 664.7% during the 4th quarter. Renaissance Technologies LLC now owns 242,400 shares of the shipping company’s stock valued at $1,086,000 after buying an additional 210,700 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Eagle Bulk Shipping by 671.5% during the 4th quarter. Deutsche Bank AG now owns 276,596 shares of the shipping company’s stock valued at $1,238,000 after buying an additional 240,744 shares during the period. 42.35% of the stock is owned by institutional investors.

About Eagle Bulk Shipping

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.

Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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