Euroseas (NASDAQ:ESEA) Rating Increased to Buy at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen upgraded shares of Euroseas (NASDAQ:ESEA – Free Report) from a hold rating to a buy rating in a research note released on Saturday.
Separately, Alliance Global Partners restated a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Euroseas presently has an average rating of “Moderate Buy” and an average target price of $62.00.
Check Out Our Latest Stock Report on Euroseas
Euroseas Stock Performance
Shares of ESEA stock opened at $69.64 on Friday. The stock has a market capitalization of $491.66 million, a PE ratio of 3.55 and a beta of 0.54. Euroseas has a 52-week low of $37.40 and a 52-week high of $74.76. The stock’s 50-day moving average price is $68.27 and its 200 day moving average price is $61.32. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43.
Euroseas (NASDAQ:ESEA – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The shipping company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.01. The firm had revenue of $57.39 million for the quarter, compared to analysts’ expectations of $57.83 million. Euroseas had a return on equity of 27.82% and a net margin of 60.11%. As a group, equities research analysts forecast that Euroseas will post 17.34 EPS for the current year.
Euroseas Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were given a $0.75 dividend. This is a boost from Euroseas’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 10th. This represents a $3.00 annualized dividend and a yield of 4.3%. Euroseas’s payout ratio is presently 15.29%.
Institutional Investors Weigh In On Euroseas
A number of institutional investors have recently added to or reduced their stakes in ESEA. Bank of America Corp DE boosted its holdings in Euroseas by 1,611.0% in the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Euroseas in the 2nd quarter valued at approximately $226,000. Jump Financial LLC purchased a new stake in Euroseas in the 2nd quarter valued at approximately $260,000. Raymond James Financial Inc. purchased a new stake in Euroseas in the 2nd quarter valued at approximately $870,000. Finally, Jane Street Group LLC purchased a new stake in Euroseas in the 2nd quarter valued at approximately $259,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.
About Euroseas
Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.
Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.