Analyst Poe Fratt remains a fan of Eagle Bulk Shipping stock in the intermediate term but expects the Connecticut-based owner of midsized bulkers to report weaker quarterly results than he had previously tipped.
The researcher for Alliance Global Partners is cutting his Ebitda estimate for the second quarter by 20% and his revenue expectation by nearly 10% after seeing rates weaken in Eagle’s supramax and ultramax operating sectors.
