Paragon Shipping (PRGN) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Paragon Shipping (NASDAQ:PRGN) released its earnings data on Tuesday. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.03, AnalystRatingsNetwork reports. The company had revenue of $11.90 million for the quarter, compared to the consensus estimate of $11.69 million. Paragon Shipping’s revenue was down 18.5% compared to the same quarter last year.
Paragon Shipping (NASDAQ:PRGN) remained flat at $5.10 during trading on Tuesday. The stock had a trading volume of 92,512 shares. Paragon Shipping has a 1-year low of $4.52 and a 1-year high of $9.40. The stock has a 50-day moving average of $5.08 and a 200-day moving average of $5.89. The company’s market cap is $125.6 million.
A number of research firms have recently commented on PRGN. Analysts at Zacks downgraded shares of Paragon Shipping from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $4.80 price target on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Paragon Shipping in a research note on Tuesday, June 10th. They set a “buy” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $9.45.
Paragon Shipping Inc is a holding Company. The Company is a global provider of shipping transportation services.
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