Euroseas (NASDAQ:ESEA) Stock Rating Upgraded by Zacks Research

Euroseas (NASDAQ:ESEA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings downgraded shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy”.

Euroseas Stock Up 0.1%

NASDAQ ESEA opened at $66.43 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46. The firm has a 50-day simple moving average of $68.57 and a 200 day simple moving average of $63.30. Euroseas has a twelve month low of $45.79 and a twelve month high of $78.76. The stock has a market cap of $469.00 million, a PE ratio of 3.50 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $0.44. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. The company had revenue of $55.84 million during the quarter, compared to the consensus estimate of $56.61 million. On average, research analysts forecast that Euroseas will post 18.1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ESEA. Raymond James Financial Inc. lifted its position 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 acquiring an additional 260 shares during the period. Russell Investments Group Ltd. acquired a new position in Euroseas in the fourth quarter valued at about $34,000. Bank of America Corp DE raised its stake in Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after purchasing an additional 1,080 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Euroseas by 3.7% during the fourth quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock worth $1,913,000 after purchasing an additional 1,262 shares during the period. 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.