Zacks: Euroseas Ltd. (ESEA) Given $2.90 Consensus Price Target by Brokerages

Shares of Euroseas Ltd. (NASDAQ:ESEA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $2.90 for the company and are expecting that the company will post $0.06 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Euroseas an industry rank of 187 out of 255 based on the ratings given to its competitors.

A number of brokerages recently issued reports on ESEA. Noble Financial began coverage on Euroseas in a research report on Friday, September 21st. They issued an “outperform” rating on the stock. Maxim Group reissued a “buy” rating and issued a $3.00 target price on shares of Euroseas in a research report on Monday, August 13th.

Euroseas stock traded down $0.06 during midday trading on Friday, reaching $1.29. The stock had a trading volume of 35,900 shares, compared to its average volume of 36,724. Euroseas has a 1-year low of $1.23 and a 1-year high of $2.73. The firm has a market cap of $15.56 million, a PE ratio of -3.37 and a beta of 1.31. The company has a debt-to-equity ratio of 5.09, a quick ratio of 0.49 and a current ratio of 0.53.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Friday, August 10th. The shipping company reported $0.04 earnings per share (EPS) for the quarter. Euroseas had a negative return on equity of 4.37% and a negative net margin of 6.44%. The business had revenue of $15.87 million for the quarter. equities research analysts predict that Euroseas will post 0.15 EPS for the current year.

An institutional investor recently raised its position in Euroseas stock. Renaissance Technologies LLC boosted its position in Euroseas Ltd. (NASDAQ:ESEA) by 98.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,395 shares of the shipping company’s stock after buying an additional 43,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.78% of Euroseas worth $155,000 as of its most recent filing with the SEC. 2.27% 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; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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