Zacks: Brokerages expect Euroseas Ltd. (NASDAQ:ESEA) reports earnings of $3.70 per share

Wall Street analysts expect Euroseas Ltd. (NASDAQ:ESEA – Get Rating) reports earnings per share of $3.70 for the current fiscal quarter, according to Zacks. Two analysts provided Euroseas earnings estimates, with the highest EPS estimate being $3.83 and the lowest estimate being $3.56. Euroseas reported earnings of $1.12 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 230.4%. The company is due to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Euroseas to report annual earnings of $14.47 per share for the current fiscal year. For the next fiscal year, analysts expect the company to post earnings of $19.25 per share, with EPS estimates ranging from $17.12 to $21.37. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of analysts covering the Euroseas.

Euroseas (NASDAQ:ESEA – Get Rating) last released its quarterly earnings data on Monday, May 23. The shipping company reported EPS of $4.13 for the quarter, beating consensus analyst estimates of $3.60 by $0.53. Euroseas achieved a return on equity of 93.37% and a net margin of 55.24%. During the same period of the previous year, the company posted EPS of $0.45.

A number of research analysts have weighed in on ESEA shares recently. upgraded Euroseas from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded Euroseas from a “buy” rating to a “hold” rating in a Wednesday, April 27 research report. Univest Sec began covering Euroseas in a research report on Thursday May 19. They issued a “buy” rating for the company. Finally, TheStreet upgraded Euroseas from a “b-” rating to a “c+” rating in a report on Thursday 7 April. One research analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.33.

ESEA shares traded at $1.05 during Friday trading hours, hitting $33.39. 143,559 shares of the company were traded, against an average volume of 89,573. Euroseas has a 1-year low of $16.00 and a 1-year high of $39.17. The company has a market capitalization of $243.41 million, a P/E ratio of 3.50 and a beta of 0.51. The company’s 50-day moving average is $26.81 and its two-hundred-day moving average is $27.11. The company has a debt ratio of 0.72, a current ratio of 1.32 and a quick ratio of 1.27.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16. Investors of record on Thursday, June 9 will receive a dividend of $0.50 per share. This represents a dividend of $2.00 on an annualized basis and a yield of 5.99%. This is a boost from the previous quarterly Euroseas dividend of $0.12. The ex-date of this dividend is Wednesday, June 8.

A number of hedge funds and other institutional investors have recently changed their positions in the ESEA. Koshinski Asset Management Inc. purchased a new stake in Euroseas during the first quarter worth approximately $40,000. Advisor Group Holdings Inc. increased its stake in Euroseas shares by 1,194.7% in the third quarter. Advisor Group Holdings Inc. now owns 1,463 shares of the shipping company worth $50,000 after purchasing an additional 1,350 shares during the period. Wells Fargo & Company MN increased its position in Euroseas by 2,272.7% during the 2nd quarter. Wells Fargo & Company MN now owns 3,132 shares of the shipping company valued at $72,000 after purchasing an additional 3,000 shares during the period. M&T Bank Corp bought a new equity stake in Euroseas during Q1 for $200,000. Finally, during the first quarter, Walleye Trading LLC acquired a new stake in Euroseas shares valued at $221,000. Hedge funds and other institutional investors own 7.33% of the company’s shares.

About Euroseas (Get a rating)

Euroseas Ltd. provides shipping services worldwide. The Company owns and operates container ships that transport dry and refrigerated containerized cargo, including manufactured goods and perishables. As of May 3, 2022, it had a fleet of 18 vessels, including 10 feeders and 8 intermediate container ships with a loading capacity of approximately 58,871 twenty-foot equivalent units (teu).

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