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Trade-Ideas: Eagle Bulk Shipping (EGLE) Is Today's "Dead Cat Bounce" Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Eagle Bulk Shipping (EGLE) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Eagle Bulk Shipping as such a stock due to the following factors:

  • EGLE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $17.8 million.
  • EGLE has traded 6,454 shares today.
  • EGLE is up 3.6% today.
  • EGLE was down 7.4% yesterday.

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More details on EGLE:

Eagle Bulk Shipping Inc., through its subsidiaries, engages in the ocean transportation of various bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including iron ore, coal, grain, cement, and fertilizers. The stock currently has a dividend yield of 26.6%. Currently there are no analysts that rate Eagle Bulk Shipping a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Eagle Bulk Shipping has been 823,700 shares per day over the past 30 days. Eagle Bulk Shipping has a market cap of $125.1 million and is part of the services sector and transportation industry. The stock has a beta of 3.48 and a short float of 20.3% with 1.37 days to cover. Shares are up 400.7% year to date as of the close of trading on Monday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Eagle Bulk Shipping as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally high debt management risk.

Highlights from the ratings report include:

  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Marine industry and the overall market, EAGLE BULK SHIPPING INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Currently the debt-to-equity ratio of 1.88 is quite high overall and when compared to the industry average, suggesting that the current management of debt levels should be re-evaluated. Despite the company's weak debt-to-equity ratio, the company has managed to keep a very strong quick ratio of 2.71, which shows the ability to cover short-term cash needs.
  • 35.17% is the gross profit margin for EAGLE BULK SHIPPING INC which we consider to be strong. Regardless of EGLE's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, EGLE's net profit margin of -6.86% significantly underperformed when compared to the industry average.
  • EGLE, with its decline in revenue, underperformed when compared the industry average of 17.2%. Since the same quarter one year prior, revenues slightly dropped by 8.8%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • EAGLE BULK SHIPPING INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, EAGLE BULK SHIPPING INC reported poor results of -$6.27 versus -$0.92 in the prior year. This year, the market expects an improvement in earnings (-$6.04 versus -$6.27).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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