According to Zacks, “EUROSEAS LTD. was formed under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Select Market under the ticker ESEA. Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. “
ESEA has been the subject of several other research reports. Maxim Group set a $1.00 price target on Euroseas and gave the stock a “buy” rating in a research note on Friday, August 9th. Noble Financial restated a “buy” rating and set a $1.30 price target on shares of Euroseas in a research note on Thursday, August 22nd. Finally, ValuEngine lowered Euroseas from a “hold” rating to a “sell” rating in a report on Thursday, October 10th.
Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, August 8th. The shipping company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.09). Euroseas had a negative return on equity of 76.01% and a negative net margin of 2.34%. The company had revenue of $8.44 million for the quarter, compared to analysts’ expectations of $8.67 million. As a group, research analysts anticipate that Euroseas will post -0.11 earnings per share for the current fiscal 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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