Euroseas (NASDAQ:ESEA) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Euroseas from a "strong-buy" rating to a "hold" rating in a recent report.
• Despite the downgrade, other analysts like Wall Street Zen have raised their ratings, stating it as a "buy," while the consensus overall remains a "Moderate Buy" with a target price of $62.00.
• Euroseas reported earnings of $4.20 per share for the last quarter, surpassing analysts' estimates and reflecting a strong revenue of $57.23 million compared to expectations of $53.31 million.

Euroseas (NASDAQ:ESEA - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on ESEA. Wall Street Zen raised Euroseas from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Maxim Group lifted their price objective on Euroseas from $57.00 to $62.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Euroseas in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Euroseas has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Euroseas Stock Performance

NASDAQ:ESEA opened at $56.43 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.21 and a quick ratio of 3.15. Euroseas has a 1 year low of $26.30 and a 1 year high of $66.00. The stock's 50 day simple moving average is $59.96 and its two-hundred day simple moving average is $46.94. The company has a market cap of $395.41 million, a price-to-earnings ratio of 3.32 and a beta of 0.91.

Euroseas (NASDAQ:ESEA - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The shipping company reported $4.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.87 by $0.33. Euroseas had a return on equity of 28.56% and a net margin of 53.75%.The business had revenue of $57.23 million for the quarter, compared to the consensus estimate of $53.31 million. As a group, equities analysts anticipate that Euroseas will post 15.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Euroseas

Several large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Euroseas during the 2nd quarter valued at approximately $870,000. Boston Partners boosted its holdings in Euroseas by 37.5% during the 1st quarter. Boston Partners now owns 17,045 shares of the shipping company's stock valued at $522,000 after acquiring an additional 4,647 shares during the period. Quadrature Capital Ltd purchased a new position in Euroseas during the 2nd quarter valued at $319,000. Tidal Investments LLC purchased a new position in Euroseas during the 2nd quarter valued at $277,000. Finally, Jump Financial LLC purchased a new position in Euroseas during the 2nd quarter valued at $260,000. Institutional investors own 6.27% of the company's stock.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.

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