Euroseas (NASDAQ:ESEA) Stock Rating Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Euroseas from Buy to Hold. Despite mixed analyst calls, MarketBeat reports a consensus Moderate Buy rating and an average price target of $93.
• Euroseas beat quarterly earnings expectations, reporting EPS of $4.70 versus the $4.09 consensus and revenue of $56.5 million versus $55.98 million expected.
• The stock opened at $66.95; two company insiders recently sold shares, while insiders collectively own 55.9% of the company.

Euroseas (NASDAQ:ESEA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ESEA has been the subject of a number of other reports. Freedom Broker assumed coverage on Euroseas in a research note on Tuesday, September 29th. They set a "buy" rating and a $93.00 target price for the company. Zacks Research downgraded Euroseas from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 21st. Finally, Weiss Ratings raised Euroseas from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, October 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.00.

Euroseas Stock Performance

NASDAQ:ESEA opened at $66.95 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.46 and a quick ratio of 5.38. The firm has a market cap of $472.67 million, a price-to-earnings ratio of 3.45 and a beta of 0.70. The firm's fifty day moving average price is $69.88 and its 200 day moving average price is $68.80. Euroseas has a 1-year low of $51.00 and a 1-year high of $79.67.

Euroseas (NASDAQ:ESEA - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 EPS for the quarter, topping analysts' consensus estimates of $4.09 by $0.61. The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. On average, sell-side analysts expect that Euroseas will post 15.87 EPS for the current year.

Insider Buying and Selling at Euroseas

In other Euroseas news, insider Symeon Pariaros sold 950 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $79.00, for a total transaction of $75,050.00. Following the completion of the transaction, the insider owned 1,900 shares of the company's stock, valued at approximately $150,100. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Panagiotis Kyriakopoulos sold 1,400 shares of the business's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $66.60, for a total transaction of $93,240.00. Following the completion of the transaction, the director directly owned 13,100 shares of the company's stock, valued at $872,460. The trade was a 9.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Euroseas by 4.2% during the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company's stock worth $6,736,000 after purchasing an additional 4,087 shares during the last quarter. Boston Partners boosted its holdings in shares of Euroseas by 63.7% in the 3rd quarter. Boston Partners now owns 40,353 shares of the shipping company's stock valued at $2,878,000 after purchasing an additional 15,705 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Euroseas by 94.8% in the 2nd quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company's stock valued at $1,033,000 after purchasing an additional 7,575 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Euroseas during the 3rd quarter valued at $1,066,000. Finally, WINTON GROUP Ltd grew its stake in shares of Euroseas by 33.1% during the 2nd quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company's stock valued at $533,000 after buying an additional 1,998 shares during the period. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

About Euroseas

Euroseas Ltd. is an international shipping company that owns and operates container vessels and drybulk carriers. It provides seaborne transportation services by chartering its vessels to customers moving goods and commodities around the world. Founded in 2005, the company is based in Athens, Greece. Its operations serve international shipping markets, with vessels carrying cargo on routes across multiple regions. Euroseas is led by Chairman and Chief Executive Officer Aristides Pittas, a shipping executive who has been associated with the company since its founding.

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