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

Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $74.71.

Separately, BTIG Research lifted their price objective on shares of Eagle Bulk Shipping from $60.00 to $70.00 and gave the company a “buy” rating in a report on Monday, January 23rd.

Eagle Bulk Shipping Stock Down 0.4 %

EGLE opened at $54.65 on Thursday. Eagle Bulk Shipping has a fifty-two week low of $40.13 and a fifty-two week high of $78.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.87 and a current ratio of 2.06. The company has a fifty day moving average of $55.40 and a two-hundred day moving average of $50.79. The stock has a market capitalization of $747.61 million, a price-to-earnings ratio of 3.57 and a beta of 1.33.

Eagle Bulk Shipping Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 15th will be given a $0.60 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $2.40 annualized dividend and a dividend yield of 4.39%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is 47.03%.

Insider Activity

In other news, CEO Gary Vogel sold 15,000 shares of Eagle Bulk Shipping stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $50.79, for a total value of $761,850.00. Following the sale, the chief executive officer now owns 147,521 shares in the company, valued at $7,492,591.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Eagle Bulk Shipping

Institutional investors and hedge funds have recently bought and sold shares of the business. Worth Asset Management LLC acquired a new position in Eagle Bulk Shipping during the fourth quarter worth about $25,000. Parallel Advisors LLC boosted its position in Eagle Bulk Shipping by 1,822.2% during the fourth quarter. Parallel Advisors LLC now owns 519 shares of the shipping company’s stock worth $26,000 after acquiring an additional 492 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Eagle Bulk Shipping during the second quarter worth about $29,000. Strs Ohio acquired a new position in Eagle Bulk Shipping during the third quarter worth about $38,000. Finally, Point72 Hong Kong Ltd acquired a new position in Eagle Bulk Shipping during the third quarter worth about $40,000. 79.88% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bulk Shipping Company Profile

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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 Ultramax and Supramax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.