Zacks: Brokerages Set $2.10 Price Target for Euroseas Ltd. (ESEA)
Shares of Euroseas Ltd. (NASDAQ:ESEA) have earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Brokerages have set a 12-month consensus price objective of $2.10 for the company, according to Zacks. Zacks has also given Euroseas an industry rank of 191 out of 265 based on the ratings given to related companies.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of Euroseas from a “strong sell” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research downgraded shares of Euroseas from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th.
An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC raised its stake in shares of Euroseas Ltd. (NASDAQ:ESEA) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,670 shares of the shipping company’s stock after buying an additional 43,800 shares during the period. Renaissance Technologies LLC owned approximately 2.42% of Euroseas worth $336,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.82% of the company’s stock.
Euroseas (ESEA) traded up 2.99% during mid-day trading on Monday, reaching $1.38. 80,038 shares of the company’s stock traded hands. The firm’s market cap is $15.42 million. The firm has a 50 day moving average of $1.28 and a 200 day moving average of $1.50. Euroseas has a 1-year low of $1.04 and a 1-year high of $8.07.
Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Friday, May 12th. The shipping company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.14. Euroseas had a negative net margin of 144.43% and a negative return on equity of 20.36%. The company had revenue of $8.29 million during the quarter. Analysts forecast that Euroseas will post ($0.48) EPS for the current year.
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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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