FY2024 EPS Estimates for Euroseas Raised by Noble Financial

Euroseas Ltd. (NASDAQ:ESEA) – Equities researchers at Noble Financial raised their FY2024 earnings per share estimates for shares of Euroseas in a research report issued on Wednesday, October 23rd. Noble Financial analyst M. Reichman now forecasts that the shipping company will post earnings of $15.06 per share for the year, up from their prior estimate of $14.99. Noble Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Euroseas’ current full-year earnings is $14.99 per share. Noble Financial also issued estimates for Euroseas’ Q4 2024 earnings at $3.71 EPS and Q1 2025 earnings at $3.76 EPS.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The company had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million.

A number of other research firms have also recently commented on ESEA. StockNews.com raised Euroseas from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Alliance Global Partners assumed coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock.

Euroseas Stock Down 1.4 %

NASDAQ ESEA opened at $41.94 on Thursday. The stock’s 50 day moving average is $44.79 and its 200 day moving average is $40.01. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. Euroseas has a 12 month low of $22.50 and a 12 month high of $50.92. The stock has a market cap of $293.83 million, a PE ratio of 2.75 and a beta of 0.85.

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 5.72%. Euroseas’s dividend payout ratio (DPR) is 15.76%.

Institutional Trading of Euroseas

Several hedge funds and other institutional investors have recently bought and sold shares of ESEA. Janney Montgomery Scott LLC raised its holdings in Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after buying an additional 2,693 shares during the period. Acadian Asset Management LLC raised its holdings in Euroseas by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after buying an additional 23,796 shares during the period. Lazard Asset Management LLC raised its holdings in Euroseas by 3,282.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after buying an additional 7,976 shares during the period. Beacon Capital Management LLC purchased a new stake in Euroseas during the 1st quarter valued at $36,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in Euroseas in the 2nd quarter valued at $248,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

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. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.