Eagle Bulk Shipping (EGLE) Downgraded to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Eagle Bulk Shipping (NASDAQ:EGLE) from a sell rating to a strong sell rating in a research note published on Friday.

Several other equities research analysts also recently issued reports on the company. B. Riley initiated coverage on Eagle Bulk Shipping in a report on Thursday, October 4th. They set a buy rating and a $8.50 price objective on the stock. ValuEngine downgraded Eagle Bulk Shipping from a hold rating to a sell rating in a report on Tuesday, August 28th. Zacks Investment Research downgraded Eagle Bulk Shipping from a hold rating to a sell rating in a report on Friday, August 10th. Maxim Group upgraded Eagle Bulk Shipping from a hold rating to a buy rating and lifted their price objective for the stock from $6.00 to $7.50 in a report on Wednesday, July 25th. Finally, Noble Financial restated a buy rating on shares of Eagle Bulk Shipping in a report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $6.86.

EGLE stock traded down $0.16 during midday trading on Friday, hitting $4.74. 311,757 shares of the company’s stock were exchanged, compared to its average volume of 337,210. 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 has a 12-month low of $4.18 and a 12-month high of $6.14. The company has a market capitalization of $357.88 million, a PE ratio of -11.29 and a beta of 1.73.



Eagle Bulk Shipping (NASDAQ:EGLE) last posted its quarterly earnings data on Tuesday, August 7th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $57.73 million for the quarter, compared to analysts’ expectations of $57.76 million. As a group, sell-side analysts anticipate that Eagle Bulk Shipping will post 0.21 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of EGLE. Wells Fargo & Company MN increased its holdings 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 acquiring an additional 16,601 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Eagle Bulk Shipping by 319.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 26,944 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 20,514 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Eagle Bulk Shipping by 57,096.6% in the 1st quarter. Royal Bank of Canada now owns 33,174 shares of the shipping company’s stock valued at $164,000 after acquiring an additional 33,116 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Eagle Bulk Shipping by 162.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,701 shares of the shipping company’s stock valued at $232,000 after acquiring an additional 26,441 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Eagle Bulk Shipping by 117.3% in the 1st quarter. Barclays PLC now owns 48,605 shares of the shipping company’s stock valued at $240,000 after acquiring an additional 26,238 shares during the last quarter. Institutional investors and hedge funds own 46.71% 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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