Euroseas (NASDAQ:ESEA) Raised to Strong-Buy at Noble Financial

Euroseas (NASDAQ:ESEAGet Free Report) was upgraded by analysts at Noble Financial to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

Euroseas Stock Up 3.9 %

ESEA stock opened at $40.36 on Wednesday. Euroseas has a twelve month low of $19.71 and a twelve month high of $42.46. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $37.52 and its 200-day moving average is $36.52. The firm has a market capitalization of $282.92 million, a PE ratio of 2.65 and a beta of 0.81.

Euroseas (NASDAQ:ESEAGet Free Report) last posted its earnings results on Thursday, May 23rd. The shipping company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.36). Euroseas had a net margin of 54.50% and a return on equity of 39.84%. The company had revenue of $48.29 million during the quarter, compared to the consensus estimate of $48.10 million. Sell-side analysts expect that Euroseas will post 9.05 EPS for the current fiscal year.

Institutional Trading of Euroseas

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after acquiring an additional 23,796 shares during the period. Quadrature Capital Ltd lifted its holdings in Euroseas by 51.4% during the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after acquiring an additional 15,618 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in Euroseas during the first quarter worth $1,300,000. Janney Montgomery Scott LLC lifted its holdings in Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after acquiring an additional 2,693 shares during the period. Finally, Virtu Financial LLC bought a new stake in Euroseas during the fourth quarter worth $350,000. 6.27% of the stock is currently owned by institutional investors.

About Euroseas

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Euroseas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euroseas and related companies with MarketBeat.com's FREE daily email newsletter.