Euroseas (NASDAQ:ESEA) Announces Earnings Results

Euroseas (NASDAQ:ESEA) posted its quarterly earnings data on Tuesday. The shipping company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.40 by ($0.15), RTT News reports. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. The business had revenue of $57.23 million for the quarter, compared to the consensus estimate of $57.61 million. During the same quarter last year, the business posted $3.92 EPS.

Euroseas Stock Down 5.9%

NASDAQ:ESEA traded down $3.65 during trading hours on Tuesday, hitting $57.91. 12,022 shares of the company’s stock traded hands, compared to its average volume of 37,325. The stock’s fifty day moving average price is $58.96 and its two-hundred day moving average price is $51.80. The firm has a market cap of $405.74 million, a P/E ratio of 3.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.15 and a current ratio of 3.21. Euroseas has a twelve month low of $26.30 and a twelve month high of $66.00.

Hedge Funds Weigh In On Euroseas

A number of large investors have recently made changes to their positions in the business. Citadel Advisors LLC lifted its position in shares of Euroseas by 144.9% in the third quarter. Citadel Advisors LLC now owns 26,576 shares of the shipping company’s stock worth $1,584,000 after purchasing an additional 15,724 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Euroseas by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock valued at $1,175,000 after buying an additional 260 shares during the period. Boston Partners grew its holdings in shares of Euroseas by 14.5% during the 3rd quarter. Boston Partners now owns 19,517 shares of the shipping company’s stock valued at $1,163,000 after acquiring an additional 2,472 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Euroseas in the third quarter worth $1,136,000. Finally, Two Sigma Investments LP acquired a new position in shares of Euroseas in the third quarter worth $989,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Wall Street Analyst Weigh In

ESEA has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Euroseas in a report on Wednesday, October 8th. Zacks Research downgraded Euroseas from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Euroseas has an average rating of “Moderate Buy” and a consensus target price of $62.00.

About Euroseas

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.