Zacks: Euroseas Ltd. (ESEA) Given Average Recommendation of “Hold” by Analysts
Shares of Euroseas Ltd. (NASDAQ:ESEA) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also given Euroseas an industry rank of 214 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised Euroseas from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Tuesday, June 21st.
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Shares of Euroseas (NASDAQ:ESEA) traded up 3.03% during midday trading on Tuesday, reaching $2.04. The company had a trading volume of 3,493 shares. Euroseas has a 1-year low of $1.40 and a 1-year high of $4.80. The firm’s 50 day moving average price is $1.98 and its 200-day moving average price is $2.07. The stock’s market capitalization is $16.72 million.
Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.40. Euroseas had a negative return on equity of 11.20% and a negative net margin of 79.44%. The business had revenue of $7.30 million for the quarter, compared to the consensus estimate of $9 million. Equities research analysts expect that Euroseas will post ($1.54) EPS for the current fiscal year.
An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC boosted its position in shares of Euroseas Ltd. (NASDAQ:ESEA) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,070 shares of the company’s stock after buying an additional 2,300 shares during the period. Renaissance Technologies LLC owned about 1.51% of Euroseas worth $231,000 at the end of the most recent quarter. 20.79% of the stock is currently owned by institutional investors.
Euroseas Company Profile
Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.
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