Zacks: Euroseas Ltd. (ESEA) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Euroseas Ltd. (NASDAQ:ESEA) have earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $2.63 for the company and are predicting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given Euroseas an industry rank of 85 out of 256 based on the ratings given to its competitors.

ESEA has been the subject of several recent analyst reports. Noble Financial initiated coverage on shares of Euroseas in a report on Friday, September 21st. They set an “outperform” rating for the company. Maxim Group reissued a “buy” rating and set a $3.00 price target on shares of Euroseas in a research note on Friday, November 16th. Zacks Investment Research cut shares of Euroseas from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 21st. Finally, ValuEngine raised shares of Euroseas from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th.

An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC increased its stake in shares of Euroseas Ltd. (NASDAQ:ESEA) by 98.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,395 shares of the shipping company’s stock after purchasing an additional 43,800 shares during the quarter. Renaissance Technologies LLC owned about 0.78% of Euroseas worth $155,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 2.29% of the company’s stock.

Shares of NASDAQ ESEA traded down $0.03 during mid-day trading on Friday, hitting $0.80. 29,667 shares of the stock were exchanged, compared to its average volume of 111,056. The firm has a market cap of $8.79 million, a price-to-earnings ratio of -2.11 and a beta of 0.70. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 9.79. Euroseas has a twelve month low of $0.53 and a twelve month high of $3.87.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, November 15th. The shipping company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.14). The firm had revenue of $8.35 million for the quarter, compared to analyst estimates of $8.32 million. Euroseas had a negative return on equity of 8.84% and a net margin of 3.76%. On average, analysts forecast that Euroseas will post -0.1 earnings per share for the current year.

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; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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