Noble Financial Has Negative Outlook of Euroseas Q3 Earnings

Euroseas Ltd. (NASDAQ:ESEA) – Research analysts at Noble Financial lowered their Q3 2024 earnings estimates for Euroseas in a report released on Wednesday, October 23rd. Noble Financial analyst M. Reichman now anticipates that the shipping company will post earnings of $3.77 per share for the quarter, down from their previous forecast of $3.78. Noble Financial 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’ Q2 2025 earnings at $3.04 EPS, Q3 2025 earnings at $3.12 EPS, Q4 2025 earnings at $3.12 EPS and FY2025 earnings at $13.04 EPS.

Several other brokerages also recently issued reports on ESEA. StockNews.com upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Alliance Global Partners assumed coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock.

Euroseas Trading Up 1.6 %

NASDAQ:ESEA opened at $42.52 on Friday. The company’s 50-day simple moving average is $44.84 and its 200 day simple moving average is $39.97. The firm has a market capitalization of $297.90 million, a P/E ratio of 2.79 and a beta of 0.85. Euroseas has a one year low of $22.50 and a one year high of $50.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC bought a new position in Euroseas during the first quarter valued at approximately $36,000. Redhawk Wealth Advisors Inc. bought a new position in Euroseas during the second quarter valued at approximately $248,000. Lazard Asset Management LLC lifted its position in Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Squarepoint Ops LLC lifted its position in Euroseas by 42.5% during the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after purchasing an additional 3,617 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after purchasing an additional 2,693 shares during the period. Institutional investors own 6.27% of the company’s stock.

Euroseas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 5.64%. Euroseas’s dividend payout ratio (DPR) is 15.76%.

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.