Euroseas (NASDAQ:ESEA) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Euroseas from “strong buy” to “hold,” bringing the consensus rating to “Hold” alongside two other hold ratings and one buy rating.
• Euroseas shares rose 4.5% to $79.39, near their 12-month high of $79.48. The company reported quarterly EPS of $4.70, exceeding analyst estimates of $4.26, while revenue of $55.84 million fell slightly short of expectations.
• Institutional investors have made several recent purchases, but hedge funds and other institutions own only 6.27% of Euroseas stock.

Euroseas (NASDAQ:ESEA - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Euroseas from a "buy (b)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Euroseas from a "hold" rating to a "buy" rating in a research report on Monday, June 1st. Finally, Alliance Global Partners reissued a "buy" rating on shares of Euroseas in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Euroseas presently has a consensus rating of "Hold".

Euroseas Stock Up 4.5%

Shares of NASDAQ:ESEA opened at $79.39 on Wednesday. The business's 50 day moving average is $69.13 and its 200 day moving average is $65.82. Euroseas has a 12-month low of $48.89 and a 12-month high of $79.48. The stock has a market cap of $560.49 million, a price-to-earnings ratio of 4.18 and a beta of 0.45. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39.

Euroseas (NASDAQ:ESEA - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, beating analysts' consensus estimates of $4.26 by $0.44. Euroseas had a return on equity of 27.55% and a net margin of 58.31%.The business had revenue of $55.84 million during the quarter, compared to analyst estimates of $56.61 million. On average, sell-side analysts forecast that Euroseas will post 18.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in Euroseas in the 4th quarter valued at $34,000. Bank of America Corp DE raised its stake in shares of Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company's stock worth $50,000 after purchasing an additional 888 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company's stock worth $76,000 after purchasing an additional 1,080 shares during the period. Quarry LP purchased a new position in shares of Euroseas in the 3rd quarter worth about $89,000. Finally, Magnetar Financial LLC purchased a new position in shares of Euroseas in the 4th quarter worth about $204,000. 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.

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