Eagle Bulk Shipping
This industry leader broke out in a big way and has been consolidating in recent trading. Eagle Bulk Shipping Inc. (NASDAQ: EGLE) engages in the ocean transportation of dry bulk cargoes worldwide.
The company owns, charters and operates dry bulk vessels that transport a range of cargoes, including iron ore, coal, grains, fertilizers, steel products, petcoke, cement and forest products. It serves miners, producers, traders and end users. As of December 31, 2021, the company owned and operated a fleet of 53 vessels.
Eagle focuses exclusively on the versatile midsize dry bulk vessel segment and owns one of the largest fleets of Supramax/Ultramax vessels in the world. The company performs all management services in-house (including strategic, commercial, operational, technical and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis.
Shareholders receive a 16.39% dividend. The price target at Jefferies is $65, while the consensus target on Eagle Bulk Shipping stock is $73.30. The stock closed on Friday at $50.99.
FS KKR
This is a very well-known name on Wall Street, and it is offering a solid entry point at current levels. FS KKR Capital Corp. (NASDAQ: FSK) is a BDC specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments.
The company also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated or mezzanine loans. In connection with the debt investments, the firm also receives equity interests such as warrants or options as additional consideration. It also seeks to purchase minority interests in the form of common or preferred equity in target companies, either in conjunction with one of the debt investments or through a co-investment with a financial sponsor.
Additionally, on an opportunistic basis, the fund also may invest in corporate bonds and similar debt securities. The fund does not seek to invest in start-up companies, turnaround situations or companies with speculative business plans. It seeks to invest in small and middle-market companies based in the United States. The fund seeks to invest in firms with annual revenue between $10 million and $2.5 billion. It seeks to exit from securities by selling them in a privately negotiated over-the-counter market.
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