Wall Street Zen Downgrades Euroseas (NASDAQ:ESEA) to Hold

Euroseas (NASDAQ:ESEA) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Euroseas Stock Up 4.9%

Shares of NASDAQ:ESEA opened at $68.74 on Friday. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The firm has a market cap of $481.87 million, a P/E ratio of 3.50 and a beta of 0.80. Euroseas has a 12 month low of $26.30 and a 12 month high of $69.48. The company’s 50-day moving average price is $56.23 and its two-hundred day moving average price is $58.28.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Wednesday, February 25th. The shipping company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.01. The firm had revenue of $57.39 million for the quarter, compared to the consensus estimate of $57.83 million. Euroseas had a return on equity of 27.82% and a net margin of 60.11%. As a group, research analysts forecast that Euroseas will post 15.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Euroseas

Large investors have recently modified their holdings of the stock. Allworth Financial LP acquired a new position in Euroseas during the second quarter valued at approximately $45,000. Boston Partners increased its stake in shares of Euroseas by 14.5% in the 3rd quarter. Boston Partners now owns 19,517 shares of the shipping company’s stock valued at $1,163,000 after purchasing an additional 2,472 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Euroseas during the 3rd quarter worth $1,136,000. Raymond James Financial Inc. bought a new stake in shares of Euroseas during the 2nd quarter worth $870,000. Finally, Squarepoint Ops LLC acquired a new stake in Euroseas in the fourth quarter valued at about $564,000. 6.27% of the stock is owned by institutional investors.

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.