Euroseas (NASDAQ:ESEA) Upgraded by Zacks Investment Research to “Hold”

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Euroseas (NASDAQ:ESEA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “EUROSEAS LTD. was formed under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Select Market under the ticker ESEA. Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. “

Several other equities analysts also recently weighed in on the company. Maxim Group set a $1.00 target price on Euroseas and gave the stock a “buy” rating in a research report on Friday, August 9th. Noble Financial reiterated a “buy” rating and set a $1.30 target price on shares of Euroseas in a research report on Thursday, August 22nd. Finally, ValuEngine downgraded Euroseas from a “hold” rating to a “sell” rating in a report on Thursday, October 10th.

NASDAQ ESEA traded down $0.02 during trading hours on Monday, hitting $0.73. 307,600 shares of the company’s stock were exchanged, compared to its average volume of 94,927. The business’s 50 day moving average is $0.69 and its 200-day moving average is $0.66. Euroseas has a 12-month low of $0.51 and a 12-month high of $3.87. The firm has a market capitalization of $9.39 million, a P/E ratio of -2.52 and a beta of 0.77. The company has a debt-to-equity ratio of 21.13, a quick ratio of 0.41 and a current ratio of 0.54.

Euroseas (NASDAQ:ESEA) last released its earnings results on Thursday, August 8th. The shipping company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.09). Euroseas had a negative return on equity of 76.01% and a negative net margin of 2.34%. The business had revenue of $8.44 million for the quarter, compared to analysts’ expectations of $8.67 million. As a group, equities research analysts anticipate that Euroseas will post -0.11 EPS for the current fiscal year.

About Euroseas

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

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