Wall Street Zen Upgrades Euroseas (NASDAQ:ESEA) to Buy

Euroseas (NASDAQ:ESEA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Euroseas presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Euroseas Price Performance

Euroseas stock opened at $60.81 on Friday. The firm has a market capitalization of $426.28 million, a PE ratio of 3.10 and a beta of 0.80. Euroseas has a 52 week low of $26.30 and a 52 week high of $72.86. The firm’s 50-day simple moving average is $60.84 and its 200 day simple moving average is $58.90. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43.

Euroseas (NASDAQ:ESEA) last posted its earnings results on Thursday, February 26th. The shipping company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.01. The firm had revenue of $57.39 million during the quarter, compared to the consensus estimate of $57.83 million. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. On average, equities research analysts predict that Euroseas will post 15.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Euroseas during the 4th quarter worth about $34,000. Bank of America Corp DE raised its position in shares of Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after buying an additional 888 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after buying an additional 1,080 shares during the period. Quarry LP purchased a new position in shares of Euroseas during the third quarter valued at approximately $89,000. Finally, Magnetar Financial LLC acquired a new stake in Euroseas during the fourth quarter worth approximately $204,000. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.