Eagle Bulk Shipping (NASDAQ:EGLE) Price Target Increased to $63.50 by Analysts at B. Riley

Eagle Bulk Shipping (NASDAQ:EGLEFree Report) had its price objective hoisted by B. Riley from $52.20 to $63.50 in a research report released on Monday, Benzinga reports. B. Riley currently has a neutral rating on the shipping company’s stock. B. Riley also issued estimates for Eagle Bulk Shipping’s Q4 2024 earnings at $1.29 EPS.

EGLE has been the subject of several other reports. BTIG Research reiterated a neutral rating on shares of Eagle Bulk Shipping in a research report on Friday, January 5th. Alliance Global Partners reissued a neutral rating on shares of Eagle Bulk Shipping in a research note on Monday, February 26th. Noble Financial reissued a market perform rating and set a $52.00 price target on shares of Eagle Bulk Shipping in a research note on Tuesday, December 12th. Stifel Nicolaus reissued a hold rating and set a $55.00 price target (up from $54.00) on shares of Eagle Bulk Shipping in a research note on Friday, January 26th. Finally, Jefferies Financial Group reissued a hold rating and set a $55.00 price target on shares of Eagle Bulk Shipping in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Eagle Bulk Shipping presently has an average rating of Hold and a consensus target price of $56.75.

View Our Latest Research Report on Eagle Bulk Shipping

Eagle Bulk Shipping Stock Performance

NASDAQ EGLE opened at $61.72 on Monday. Eagle Bulk Shipping has a 52-week low of $39.15 and a 52-week high of $63.30. The company has a 50-day simple moving average of $56.21 and a 200 day simple moving average of $48.23. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 0.86. The company has a market capitalization of $612.88 million, a PE ratio of 40.34 and a beta of 1.49.

Eagle Bulk Shipping (NASDAQ:EGLEGet Free Report) last released its quarterly earnings data on Monday, March 4th. The shipping company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.38. Eagle Bulk Shipping had a net margin of 5.77% and a return on equity of 4.49%. The company had revenue of $104.59 million during the quarter, compared to analyst estimates of $76.16 million. On average, research analysts predict that Eagle Bulk Shipping will post 5.09 EPS for the current year.

Eagle Bulk Shipping Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.89%. This is a positive change from Eagle Bulk Shipping’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, March 12th. Eagle Bulk Shipping’s dividend payout ratio is currently 26.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Eagle Bulk Shipping by 28.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 42,259 shares of the shipping company’s stock valued at $2,341,000 after buying an additional 9,328 shares during the period. Legal & General Group Plc boosted its holdings in Eagle Bulk Shipping by 2.4% in the fourth quarter. Legal & General Group Plc now owns 9,923 shares of the shipping company’s stock worth $550,000 after acquiring an additional 234 shares in the last quarter. Barclays PLC boosted its holdings in Eagle Bulk Shipping by 186.8% in the fourth quarter. Barclays PLC now owns 13,975 shares of the shipping company’s stock worth $774,000 after acquiring an additional 9,103 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Eagle Bulk Shipping by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 376,968 shares of the shipping company’s stock worth $20,884,000 after acquiring an additional 23,845 shares in the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Eagle Bulk Shipping during the fourth quarter worth about $232,000. 89.69% of the stock is currently owned by institutional investors.

About Eagle Bulk Shipping

(Get Free Report)

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.

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Analyst Recommendations for Eagle Bulk Shipping (NASDAQ:EGLE)

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