Euroseas (NASDAQ:ESEA) Research Coverage Started at Freedom Broker

Freedom Broker began coverage on shares of Euroseas (NASDAQ:ESEA) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $93.00 price objective on the shipping company’s stock.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. Finally, Zacks Research cut Euroseas from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Euroseas has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Euroseas Stock Down 1.1%

ESEA opened at $70.51 on Tuesday. The stock’s fifty day simple moving average is $74.96 and its 200 day simple moving average is $70.81. Euroseas has a 1-year low of $51.00 and a 1-year high of $79.67. The stock has a market cap of $497.80 million, a PE ratio of 3.63 and a beta of 0.62. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.36.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.09 by $0.61. The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. As a group, research analysts expect that Euroseas will post 18.03 earnings per share for the current year.

Euroseas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th were paid a $0.80 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $3.20 annualized dividend and a yield of 4.5%. Euroseas’s payout ratio is 16.47%.

Insider Activity

In other Euroseas news, insider Symeon Pariaros sold 950 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total transaction of $75,050.00. Following the transaction, the insider owned 1,900 shares in the company, valued at $150,100. This represents a 33.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 55.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Euroseas

Large investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its position in shares of Euroseas by 33.1% during the 2nd quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock valued at $533,000 after acquiring an additional 1,998 shares during the period. Navellier & Associates Inc. lifted its position in Euroseas by 94.8% during the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock worth $1,033,000 after purchasing an additional 7,575 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Euroseas during the second quarter worth about $423,000. Redhawk Wealth Advisors Inc. grew its stake in Euroseas by 36.2% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock worth $275,000 after buying an additional 1,102 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Euroseas by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock valued at $6,736,000 after buying an additional 4,087 shares during the period. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships. The company primarily focuses on feeder and intermediate-size vessels, which transport containerized cargo on regional and international trade routes and connect smaller ports with major shipping hubs.

Euroseas charters its vessels to liner companies and other customers under a combination of time-charter and voyage arrangements. Its fleet serves global container transportation markets, with operations managed from Greece and vessels registered under international shipping jurisdictions.

Founded in 2005, Euroseas is led by Aristides Pittas, who serves as chairman and chief executive officer.