Euroseas (NASDAQ:ESEA) Upgraded by Wall Street Zen to “Buy” Rating
by Michael Walen · The Markets DailyWall Street Zen upgraded shares of Euroseas (NASDAQ:ESEA – Free Report) from a hold rating to a buy rating in a report published on Saturday.
Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Euroseas currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.
Read Our Latest Research Report on ESEA
Euroseas Stock Performance
Shares of ESEA stock opened at $60.81 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.82 and a current ratio of 4.89. The firm has a market cap of $426.28 million, a price-to-earnings ratio of 3.10 and a beta of 0.80. Euroseas has a 52 week low of $26.30 and a 52 week high of $72.86. The firm’s 50-day simple moving average is $60.84 and its two-hundred day simple moving average is $58.92.
Euroseas (NASDAQ:ESEA – Get Free Report) last released its earnings results on Thursday, February 26th. The shipping company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.01. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. The firm had revenue of $57.39 million during the quarter, compared to the consensus estimate of $57.83 million. As a group, equities analysts forecast that Euroseas will post 15.15 earnings per share for the current year.
Euroseas Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were issued a $0.75 dividend. This is a boost from Euroseas’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $3.00 annualized dividend and a yield of 4.9%. Euroseas’s payout ratio is 15.29%.
Institutional Investors Weigh In On Euroseas
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Tennessee Department of Treasury purchased a new stake in shares of Euroseas during the fourth quarter worth $404,000. Millennium Management LLC lifted its holdings in Euroseas by 171.7% during the 4th quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after purchasing an additional 33,738 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Euroseas during the 4th quarter worth about $311,000. Lazard Asset Management LLC grew its holdings in Euroseas by 3.7% during the 4th quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock valued at $1,913,000 after buying an additional 1,262 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Euroseas by 39.3% during the 4th quarter. Jump Financial LLC now owns 10,692 shares of the shipping company’s stock valued at $584,000 after buying an additional 3,019 shares in the last quarter. Institutional investors own 6.27% of the company’s stock.
Euroseas Company Profile
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.