Eagle Bulk Shipping Inc. (NASDAQ:EGLE) CFO Costanzo Frank De sells 3,022 shares
Eagle Bulk Shipping Inc. (NASDAQ:EGLE – Get Rating) CFO Costanzo Frank De sold 3,022 shares of the company in a trade on Monday, June 6. The shares were sold at an average price of $78.06, for a total value of $235,897.32. Following the completion of the sale, the CFO now owns 52,323 shares of the company, valued at $4,084,333.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.
Shares of Eagle Bulk Shipping rose $0.02 on Tuesday, hitting $76.47. 422,697 shares of the company were traded, compared to its average volume of 389,491. The company’s 50-day moving average price is $66.29 and its two-hundred-day moving average price is 54, $65. The company has a debt ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.16. The stock has a market capitalization of $1.05 billion, a PE ratio of 5.33 and a beta of 1.27. Eagle Bulk Shipping Inc. has a one-year low of $36.18 and a one-year high of $78.75.
Eagle Bulk Shipping (NASDAQ:EGLE – Get Rating) last reported quarterly earnings data on Thursday, May 5. The shipping company reported EPS of $3.97 for the quarter, beating analyst consensus estimates of $3.96 by $0.01. Eagle Bulk Shipping achieved a return on equity of 40.41% and a net margin of 33.43%. The company posted revenue of $140.77 million in the quarter, compared to $134.93 million expected by analysts. In the same period a year earlier, the company earned earnings per share of $0.84. On average, analysts expect Eagle Bulk Shipping Inc. to post earnings per share of 17.9 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 25. Shareholders of record on Monday, May 16 received a dividend of $2.00. The ex-dividend date was Friday, May 13. This represents a dividend of $8.00 on an annualized basis and a dividend yield of 10.46%. Eagle Bulk Shipping’s dividend payout ratio (DPR) is currently 55.83%.
EGLE has been the subject of several research reports. Zacks Investment Research upgraded shares of Eagle Bulk Shipping from a “hold” rating to a “buy” rating and set a price target of $66.00 for the company in a Wednesday, May 11 research report. TheStreet upgraded shares of Eagle Bulk Shipping from a “c” rating to a “b-” rating in a Friday, March 4 research report. StockNews.com upgraded Eagle Bulk Shipping from a “buy” to a “hold” rating in a research rating on Monday. Jefferies Financial Group took over coverage of Eagle Bulk Shipping in a research report Wednesday, April 27. They set a “buy” rating for the company. Finally, HC Wainwright raised its price target on Eagle Bulk Shipping from $80.00 to $90.00 in a Monday, May 9 research report. One equity research analyst gave the stock a hold rating and five gave the company’s stock a buy rating. Based on data from MarketBeat, Eagle Bulk Shipping has an average rating of “Buy” and an average target price of $71.75.
Several large investors have recently changed their positions in EGLE. American International Group Inc. increased its stake in Eagle Bulk Shipping by 4.8% in the third quarter. American International Group Inc. now owns 4,891 shares of the shipping company worth $247,000 after acquiring 222 more shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Eagle Bulk Shipping by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,991 shares of the transportation company worth $1,092,000 after buying 249 additional shares during the period. Deutsche Bank AG increased its position in shares of Eagle Bulk Shipping by 5.6% during the fourth quarter. Deutsche Bank AG now owns 5,434 shares in the shipping company worth $247,000 after buying an additional 290 shares last quarter. Rhumbline Advisers increased its holdings of Eagle Bulk Shipping shares by 3.3% in the fourth quarter. Rhumbline Advisers now owns 10,157 shares of the shipping company valued at $462,000 after purchasing an additional 320 shares during the period. Finally, Edmond DE Rothschild Holding SA acquired a new position in shares of Eagle Bulk Shipping in the 1st quarter valued at $31,000. Institutional investors and hedge funds hold 72.13% of the company’s shares.
About Eagle Bulk Shipping (Get an assessment)
Eagle Bulk Shipping Inc engages in the shipping of dry bulk cargoes worldwide. The Company owns, charters and operates dry bulk carriers that transport a range of bulk cargoes, including iron ore, coal, grain, fertilizers, steel products, petroleum coke, cement and forestry products. It serves miners, producers, traders, and end users.
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