Eagle Bulk Shipping Gets a Hold Rating from Maxim Group

Maxim Group analyst James Jang reiterated a Hold rating on Eagle Bulk Shipping (NASDAQ: EGLE) today and set a price target of $5. The company’s shares closed on Friday at $4.43, close to its 52-week low of $4.10.

Jang observed:

“On Thursday evening, November 2, 2017, after the market close, Eagle Bulk Shipping (EGLE) reported 3Q17 results, which were mostly in-line with our expectations.”

According to TipRanks.com, Jang is a 3-star analyst with an average return of 4.9% and a 42.9% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP , Nordic American Tanker, and Navigator Holdings.

Eagle Bulk Shipping has an analyst consensus of Hold, with a price target consensus of $5.

Based on Eagle Bulk Shipping’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $62.71 million and GAAP net loss of $10.26 million. In comparison, last year the company earned revenue of $35.79 million and had a GAAP net loss of $19.36 million.

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Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer.