Eagle Bulk Shipping Inc (EGLE)

[mikembte2005]

Like the value here. Just bought in at 3.35. Could be a great long term play. Debt is long term and from your read positive operating cash flow so no issues there. Plenty of time to have rates rise.

[Jester_Vandalay]

Eagle Bulk Shipping: Value Stock, Or Value Trap?


Eagle Bulk Shipping Inc. (NASDAQ:EGLE) engages in the ocean transportation of various bulk cargoes worldwide. The company owns a fleet of 45 oceangoing vessels comprised of 43 Supramax and 2 Handymax vessels with a combined carrying capacity of 2,451,259 deadweight tons. Currently, the company has a market capitalization of just under $77 million and an average daily volume of 1.3 million shares.

Eagle Bulk Shipping

It would be fair to say that the shipping sector has been beaten down for the past few years. However, due a rise in shipment volume of iron ore to China, shipping rates have recently recovered to some extent. That said, daily spot rates are still far away from the highs seen pre-2008. Still, there are deals to be found in the market if you look hard enough and Eagle Bulk Shipping Inc. (NASDAQ:EGLE) could be one of them.

Like the majority of its peers, Eagle Bulk Shipping Inc. (NASDAQ:EGLE) trades at discount to book value. However, care needs to be taken when evaluating a shipping company based on its discount to book value alone. Indeed, many of the shipping companies currently trading below book are hemorrhaging cash and issuing stock to bolster cash flows. I won’t mention any names in particular, but some of these companies do look to be classic value traps.

Eagle Bulk is different

Nonetheless, it would appear that Eagle Bulk Shipping Inc. (NASDAQ:EGLE) is different. Based on the company’s fiscal second quarter numbers, Eagle Bulk has assets of $1.78 billion and liabilities of $1.18 billion. Long-term debt makes up the majority of the company’s total liability figure, standing at $1.16 billion. What’s more, the company has $53.6 million in cash and short term assets on its balance sheet and a current ratio of two. So, the company looks to be financially safe for the next 12 months at least. Debt as a percentage of assets works out at around 65% and interest costs were covered 1.2 times by EBITDA during the first six months of this year.

In addition, shareholder equity works out at around $601 million, or $35.97 per share, indicating that at current levels the company is trading at a price-to-book ratio of 0.13 – a huge margin of safety.

But aside from a strong balance sheet, why is Eagle Bulk so appealing? Well, surprisingly the company has been one of the few shipping companies to remain profitable from 2008 to 2010 and operating cash flow positive since 2008. Indeed, this means that apart from the funding of new ships back in 2010, (in hindsight a bad decision) the company has not issued any new debt or stock to fund operations since 2008.

Eagle Bulk is an interesting play

Eagle Bulk is an interesting play as it would appear that the company has managed to avoid much of the turbulence suffered by its peers during the past five years. Additionally, as the company is currently trading at such a huge discount to book value, the margin of safety here is appealing. As a play on the recovering dry bulk shipping market, Eagle Bulk looks well placed to ride the recovery. Furthermore, investors need not worry about equity dilution or crippling debt issuance while they wait for the market to recover as Eagle continues to turn a profit.

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Long and Strong with 5K shares....holding out for the long term payout

[$Money Bags$]

That was a terrible quarter, just aweful. Let's hope that since quite a few of their ships leases are due up they can get a better rate.

[Jester_Vandalay]

No worries here

[TerribleTwit]

EGLE is getting hammered ... dig

[TerribleTwit]

not looking good today.

[Jester_Vandalay]

Long @ 5K

[Crumbster]

Baltic Dry Index Up 1.4% to 1,525 ... dry shippers trying to turn up

[TerribleTwit]

TASR is a friggen rocket ! EGLE going green today !

[PAC]

The gift that keeps giving

[SmarTrader]

WHAT A F**KING JOKE THESE POFS MM'S KILLED 10% OF THE RUN TODAY BUNCH OF F**KING BS!!!!

[Insanant]

Looks like a gap fill coming.

[PAC]

Absolutely gorgeous. Gappa

[PAC]

GOING

[PAC]

incredible intraday double bottom bounce

[PAC]

That's it. See ya. Climax run

[PAC]

Friggin squeeze is a MF

[PAC]

How we doing today EGLE fans?? Ching ching!!

[TerribleTwit]

Insane in the membrane

[PAC]

Still beasting. Got some on dips

[$Money Bags$]

I sold early last week during premarket on one of the promo hypes. I have a very big order in at .179. We'll see, they are RISKY, risky. I used to flip DSX, but haven't in a while. The BDI is way up and driving all shippers.

[TerribleTwit]

dig.... have you been following any of the other shippers like DRYS or FRO ? Charts pretty much the same lately. ALL GREEN . Remember when DRYS went from like $8 to $125 and FRO went from $4 to $70 .. crazy !! Could it happen again ?

I see you kinda like (FREE) .. will it ever recover ? .20 cents , dam , any volume ?

[$Money Bags$]

Huge volume too. Wonder what they know.

[$Money Bags$]

Me too, damn!

[TerribleTwit]

I think the pullback was $4.98 ..lol

[$Money Bags$]

No chit. I'm just shaking my head. I always keep a few long term, but sold them this time.lol Pull back baby, pull back!

[TerribleTwit]

Eagle is a friggen MONSTER !

[$Money Bags$]

lol, I got caught selling early on this, sol, and some of my fly flippers. I guess it should have been a hold type of week.lol

[$Money Bags$]

I got caught flipping it this time and it took off without me. I know she'll come back eventually.

[TerribleTwit]

Nice ..... I feel naked now.

[TerribleTwit]

She keeps a runnin' . Selling some at $4.40 .. if she makes it there.

[$Money Bags$]

Crapper, just sold my last shares at 4.19, settle down baby.lol

[TerribleTwit]

Looks like $4.00 today ! YAHOO

[$Money Bags$]

It was a classic ascending triangle breakout. I love it!

[Penny Roger$]

$EGLE ~ double bottomed and ran again!



Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$EGLE has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "EGLE" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "EGLE": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=EGLE ~
Search Ihub for "EGLE" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=EGLE ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~


c

[$Money Bags$]

.20? ? What you taking about Willis? Lol. 3.20?

[trade up]

Try free @0.20 GLTA 6789237789

[Penny Roger$]

~ $EGLE ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!

$EGLE has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~







For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~

What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~


To find other similar posts of "EGLE" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "EGLE": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=EGLE ~
Search Ihub for "EGLE" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=EGLE ~


For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~


Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~


c

[$Money Bags$]

Sold @4, now back to waiting for 3.2x's to come back.

[$Money Bags$]

SHORT SQUEEZE MEGA!

[$Money Bags$]

Someone grab the paddles. clear.

[$Money Bags$]

5% of the float has sold at the bid today. That trend needs to reverse damnit!

[New Waters]

EGLE - green close ... woot! LOL! Gut hold & Gut buy on the bottom BB.

[softballdaddy]

If we all had that vision lol

nice bounce here

[$Money Bags$]

Who'd of thought that me selling 300 of my 1k at open for 3.98 would be such a good deal. Little did I know I would be buying so much more though or I would have sold it all.lol

[$Money Bags$]

I guess doubling down at x.64 and tripling down at x.45 may pay off finally. Shaking the haters off.lol

[softballdaddy]

bouncing a little...looks like Wrinks jogging

[New Waters]

Try this chart, I was waiting at the bottom BB, add it!

I'll play the game!

Edt: As you noted, EGLE is set better than a number of other shippers. Turning around 2013 vs. 2012 ... and remember, shippers is about the last sector to rebound proportionately with others in the market overall. IMO

[$Money Bags$]

Heck, even DRYS is green and they have way less going for them than EGLE

[softballdaddy]