Zacks: Eagle Bulk Shipping Inc (EGLE) Given Average Recommendation of “Strong Buy” by Analysts
Eagle Bulk Shipping Inc (NASDAQ:EGLE) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a 1 year consensus price target of $7.00 for the company and are anticipating that the company will post ($0.22) EPS for the current quarter, according to Zacks. Zacks has also assigned Eagle Bulk Shipping an industry rank of 144 out of 265 based on the ratings given to its competitors.
EGLE has been the subject of a number of analyst reports. Seaport Global Securities reaffirmed a “buy” rating and issued a $7.00 price target on shares of Eagle Bulk Shipping in a report on Thursday, March 9th. Zacks Investment Research raised Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Friday, March 24th.
Eagle Bulk Shipping (NASDAQ:EGLE) traded up 5.38% on Tuesday, reaching $5.09. The company’s stock had a trading volume of 263,105 shares. The firm’s 50 day moving average price is $5.49 and its 200-day moving average price is $5.73. Eagle Bulk Shipping has a 1-year low of $4.06 and a 1-year high of $21.80.
Eagle Bulk Shipping (NASDAQ:EGLE) last released its quarterly earnings results on Thursday, March 30th. The shipping company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.15. The business earned $41.84 million during the quarter, compared to analyst estimates of $30.04 million. Eagle Bulk Shipping had a negative return on equity of 29.84% and a negative net margin of 148.42%. Analysts predict that Eagle Bulk Shipping will post ($0.80) EPS for the current fiscal year.
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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.
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