Noble Financial Maintains Their Buy Rating on Eagle Bulk Shipping (EGLE)

In a report released today, Poe Fratt from Noble Financial maintained a Buy rating on Eagle Bulk Shipping (EGLEResearch Report), with a price target of $4.80. The company’s shares closed last Monday at $2.48.

According to TipRanks.com, Fratt is ranked 0 out of 5 stars with an average return of -13.8% and a 34.6% success rate. Fratt covers the Services sector, focusing on stocks such as Energy Services of America, Great Lakes Dredge & Dock, and Orion Group Holdings.

Currently, the analyst consensus on Eagle Bulk Shipping is a Strong Buy with an average price target of $3.95, which is a 60.6% upside from current levels. In a report issued on June 11, Cleaves Securities also maintained a Buy rating on the stock with a $3.50 price target.

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Based on Eagle Bulk Shipping’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $74.38 million and GAAP net loss of $3.53 million. In comparison, last year the company earned revenue of $77.39 million and had a net profit of $29.48K.

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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. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.