Euroseas (NASDAQ:ESEA – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other research analysts have also recently commented on the company. Alliance Global Partners started coverage on Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price target on the stock. Noble Financial raised Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.
Read Our Latest Research Report on ESEA
Euroseas Stock Down 11.5 %
Euroseas (NASDAQ:ESEA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The firm had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Analysts expect that Euroseas will post 13.24 EPS for the current year.
Institutional Trading of Euroseas
A number of hedge funds and other institutional investors have recently made changes to their positions in ESEA. Beacon Capital Management LLC bought a new stake in shares of Euroseas during the 1st quarter valued at $36,000. Tucker Asset Management LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $86,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Euroseas during the 2nd quarter valued at $248,000. Lazard Asset Management LLC raised its stake in shares of Euroseas by 3,282.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $350,000. 6.27% of the stock is currently owned by institutional investors.
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. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.
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