Euroseas (NASDAQ:ESEA) Stock Rating Upgraded by Zacks Research

Euroseas (NASDAQ:ESEA) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ESEA. Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Euroseas presently has a consensus rating of “Buy”.

Euroseas Stock Up 0.1%

Shares of Euroseas stock opened at $66.43 on Tuesday. Euroseas has a 12-month low of $45.79 and a 12-month high of $78.76. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average price of $68.57 and a two-hundred day moving average price of $63.30. The stock has a market capitalization of $469.00 million, a P/E ratio of 3.50 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.26 by $0.44. The business had revenue of $55.84 million during the quarter, compared to analysts’ expectations of $56.61 million. Euroseas had a return on equity of 27.55% and a net margin of 58.31%. Equities analysts expect that Euroseas will post 18.1 earnings per share for the current year.

Institutional Investors Weigh In On Euroseas

Several large investors have recently made changes to their positions in ESEA. Renaissance Technologies LLC increased its position in shares of Euroseas by 4.2% during the 1st quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock worth $6,736,000 after purchasing an additional 4,087 shares in the last quarter. State of Wyoming acquired a new position in Euroseas in the first quarter valued at about $323,000. Inspire Investing LLC bought a new stake in Euroseas during the first quarter worth about $1,591,000. State of Tennessee Department of Treasury acquired a new stake in shares of Euroseas during the fourth quarter worth approximately $404,000. Finally, Millennium Management LLC increased its holdings in shares of Euroseas by 171.7% during the fourth quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after buying an additional 33,738 shares in the last quarter. Institutional investors own 6.27% of the company’s stock.

About Euroseas

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.