Q3 2024 EPS Estimates for Euroseas Ltd. (NASDAQ:ESEA) Raised by Analyst

Euroseas Ltd. (NASDAQ:ESEA) – Investment analysts at Noble Financial boosted their Q3 2024 earnings per share (EPS) estimates for Euroseas in a research report issued to clients and investors on Wednesday, September 25th. Noble Financial analyst M. Reichman now anticipates that the shipping company will post earnings per share of $3.78 for the quarter, up from their prior estimate of $2.75. Noble Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Euroseas’ current full-year earnings is $13.24 per share. Noble Financial also issued estimates for Euroseas’ Q4 2024 earnings at $3.63 EPS, FY2024 earnings at $14.99 EPS, Q1 2025 earnings at $3.41 EPS, Q2 2025 earnings at $2.63 EPS, Q3 2025 earnings at $2.73 EPS, Q4 2025 earnings at $2.73 EPS and FY2025 earnings at $11.50 EPS.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, beating 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 firm had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million.

Separately, Alliance Global Partners assumed coverage on Euroseas in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock.

Euroseas Price Performance

Shares of Euroseas stock opened at $49.42 on Friday. Euroseas has a twelve month low of $22.50 and a twelve month high of $49.80. The stock has a market capitalization of $346.24 million, a P/E ratio of 3.24 and a beta of 0.84. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $42.92 and its 200 day moving average price is $38.83.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s dividend payout ratio is presently 15.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC purchased a new stake in shares of Euroseas during the first quarter worth about $36,000. Tucker Asset Management LLC purchased a new stake in shares of Euroseas during the fourth quarter worth about $86,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Euroseas during the second quarter worth about $248,000. Lazard Asset Management LLC increased its position in shares of Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after acquiring an additional 7,976 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Euroseas during the fourth quarter worth about $350,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Company Profile

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.