Weiss Ratings Reiterates Buy (B-) Rating for Euroseas (NASDAQ:ESEA)

Key Points

• Weiss Ratings has reiterated a strong Buy (B-) rating for Euroseas (NASDAQ:ESEA), indicating confidence in the stock's performance.
• Euroseas recently reported $4.20 earnings per share, exceeding analysts' expectations and reflecting a significant net margin of 53.75%.
• The stock has a current price target of $62.00, with several analysts collectively providing a consensus Buy rating.

Euroseas (NASDAQ:ESEA - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other analysts have also recently weighed in on ESEA. Wall Street Zen upgraded shares of Euroseas from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Maxim Group lifted their price objective on shares of Euroseas from $57.00 to $62.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $62.00.

Euroseas Price Performance

Shares of Euroseas stock opened at $56.06 on Wednesday. Euroseas has a twelve month low of $26.30 and a twelve month high of $66.00. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $59.56 and a two-hundred day simple moving average of $46.07. The stock has a market capitalization of $392.98 million, a price-to-earnings ratio of 3.29 and a beta of 0.91.

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

Hedge Funds Weigh In On Euroseas

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company's stock worth $68,000 after purchasing an additional 1,756 shares during the last quarter. Boston Partners boosted its position in Euroseas by 37.5% during the 1st quarter. Boston Partners now owns 17,045 shares of the shipping company's stock worth $522,000 after buying an additional 4,647 shares during the period. Commons Capital LLC bought a new stake in Euroseas during the 2nd quarter worth approximately $255,000. Allworth Financial LP bought a new stake in Euroseas during the 2nd quarter worth approximately $45,000. Finally, Geode Capital Management LLC bought a new stake in Euroseas during the 2nd quarter worth approximately $226,000. 6.27% of the stock is currently owned by institutional investors.

Euroseas Company Profile

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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