Zacks: Analysts Set $3.00 Price Target for Euroseas Ltd. (ESEA)

Euroseas Ltd. (NASDAQ:ESEA) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price objective of $3.00 for the company, according to Zacks. Zacks has also assigned Euroseas an industry rank of 243 out of 265 based on the ratings given to related companies.

Several equities analysts have commented on ESEA shares. Maxim Group set a $3.00 price objective on shares of Euroseas and gave the company a “buy” rating in a report on Monday, November 20th. ValuEngine upgraded shares of Euroseas from a “strong sell” rating to a “sell” rating in a research note on Friday, October 27th.

A hedge fund recently bought a new stake in Euroseas stock. WealthTrust Axiom LLC purchased a new stake in Euroseas Ltd. (NASDAQ:ESEA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 66,700 shares of the shipping company’s stock, valued at approximately $111,000. WealthTrust Axiom LLC owned approximately 0.60% of Euroseas as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.68% of the company’s stock.

Euroseas (NASDAQ ESEA) opened at $1.77 on Monday. Euroseas has a fifty-two week low of $1.13 and a fifty-two week high of $2.73. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 1.02.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Friday, November 10th. The shipping company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.06. Euroseas had a negative net margin of 70.00% and a negative return on equity of 14.29%. The firm had revenue of $11.07 million for the quarter.

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About Euroseas

Euroseas Ltd. is engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company’s operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers.

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