Eagle Bulk Shipping Inc. (EGLE) To Go Ex-Dividend on November 13th

Eagle Bulk Shipping Inc. (NASDAQ:EGLE) declared a quarterly dividend on Thursday, November 2nd, NASDAQ reports. Shareholders of record on Tuesday, November 14th will be paid a dividend of 0.10 per share by the shipping company on Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Monday, November 13th.

Eagle Bulk Shipping has a dividend payout ratio of 8.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bulk Shipping to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 9.2%.

Eagle Bulk Shipping Price Performance

Shares of NASDAQ EGLE opened at $41.57 on Friday. The firm has a market capitalization of $412.79 million, a P/E ratio of 17.32 and a beta of 1.32. The company has a quick ratio of 1.47, a current ratio of 0.86 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $41.94 and its two-hundred day simple moving average is $43.40. Eagle Bulk Shipping has a twelve month low of $39.15 and a twelve month high of $67.09.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EGLE shares. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of Eagle Bulk Shipping in a report on Friday, November 3rd. Stifel Nicolaus lowered their price target on Eagle Bulk Shipping from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, October 19th. TheStreet lowered Eagle Bulk Shipping from a “b” rating to a “c+” rating in a research report on Friday, November 3rd. StockNews.com lowered Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Finally, BTIG Research lowered their price target on Eagle Bulk Shipping from $70.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Eagle Bulk Shipping presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Insider Activity

In related news, Director Justin A. Knowles acquired 1,450 shares of Eagle Bulk Shipping stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average price of $44.68 per share, for a total transaction of $64,786.00. Following the completion of the transaction, the director now directly owns 5,842 shares in the company, valued at approximately $261,020.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Eagle Bulk Shipping

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Eagle Bulk Shipping by 4.8% in the 4th quarter. Legal & General Group Plc now owns 4,160 shares of the shipping company’s stock worth $208,000 after acquiring an additional 192 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Eagle Bulk Shipping by 102.0% during the first quarter. Tower Research Capital LLC TRC now owns 612 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 309 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Eagle Bulk Shipping by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 34,586 shares of the shipping company’s stock valued at $1,574,000 after purchasing an additional 324 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Eagle Bulk Shipping by 12.1% during the fourth quarter. Citigroup Inc. now owns 4,365 shares of the shipping company’s stock valued at $218,000 after purchasing an additional 470 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Eagle Bulk Shipping by 11.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,581 shares of the shipping company’s stock valued at $238,000 after purchasing an additional 487 shares in the last quarter. 89.69% of the stock is currently owned by institutional investors.

Eagle Bulk Shipping Company Profile

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, cement, and forest products. It serves miners, producers, traders, and end users.