Global Hunter Securities Starts Stock Coverage on Eagle Bulk Shipping (EGLE)
Analysts at Global Hunter Securities initiated coverage on shares of Eagle Bulk Shipping (NASDAQ: EGLE) in a research report issued to clients and investors on Tuesday. The firm set a “reduce” rating and a $0.75 price target on the stock.
Separately, analysts at Cantor Fitzgerald downgraded shares of Eagle Bulk Shipping from a “hold” rating to a “sell” rating in a research note to investors on Thursday, March 15th.
Eagle Bulk Shipping traded down 12.62% on Tuesday, hitting $3.5301. Eagle Bulk Shipping has a 52-week low of $0.88 and a 52-week high of $3.47. The company’s market cap is $222.4 million.
Eagle Bulk Shipping last posted its quarterly earnings results on Wednesday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. The company’s revenue for the quarter was down 39.3% on a year-over-year basis. Analysts expect that Eagle Bulk Shipping will post $-0.31 EPS next quarter.
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.