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. As of December 31, 2021, the company owned and operated a fleet of 53 vessels. Eagle Bulk Shipping Inc. was incorporated in 2005 and is headquartered in Stamford, Connecticut.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on EGLE shares. HC Wainwright increased their price objective on Eagle Bulk Shipping from $80.00 to $90.00 in a report on Monday, May 9th. StockNews.com raised Eagle Bulk Shipping from a "hold" rating to a "buy" rating in a report on Tuesday, June 14th. Clarkson Capital reaffirmed a "buy" rating on shares of Eagle Bulk Shipping in a report on Tuesday, June 14th. Jefferies Financial Group began coverage on Eagle Bulk Shipping in a research report on Wednesday, July 20th. They set a "buy" rating and a $64.00 price objective on the stock. Finally, Alliance Global Partners began coverage on Eagle Bulk Shipping in a research report on Wednesday, August 3rd. They set a "buy" rating and a $85.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $74.00.
Eagle Bulk Shipping Price Performance
NASDAQ:EGLE traded up $2.01 during trading hours on Monday, hitting $53.00. The company's stock had a trading volume of 1,276 shares, compared to its average volume of 394,247. The stock has a fifty day simple moving average of $55.09 and a 200-day simple moving average of $58.14. The company has a market capitalization of $725.73 million, a P/E ratio of 2.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16. Eagle Bulk Shipping has a twelve month low of $36.21 and a twelve month high of $78.75.
Eagle Bulk Shipping (NASDAQ:EGLE - Get Rating) last released its quarterly earnings data on Thursday, May 5th. The shipping company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.01. The business had revenue of $140.77 million for the quarter, compared to analyst estimates of $134.93 million. Eagle Bulk Shipping had a return on equity of 44.68% and a net margin of 41.71%. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts anticipate that Eagle Bulk Shipping will post 18.17 EPS for the current fiscal year.
Insider Activity at Eagle Bulk Shipping
In other news, CFO Costanzo Frank De sold 3,022 shares of Eagle Bulk Shipping stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $78.06, for a total transaction of $235,897.32. Following the sale, the chief financial officer now directly owns 52,323 shares of the company's stock, valued at $4,084,333.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by insiders.