Analysts Issue Forecasts for Euroseas Ltd.’s Q3 2024 Earnings (NASDAQ:ESEA)

Euroseas Ltd. (NASDAQ:ESEA) – Equities research analysts at Noble Financial lifted their Q3 2024 earnings per share (EPS) estimates for shares of Euroseas in a research report issued on Wednesday, September 25th. Noble Financial analyst M. Reichman now expects that the shipping company will earn $3.78 per share for the quarter, up from their prior estimate of $2.75. Noble Financial currently 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.

Separately, Alliance Global Partners began coverage on Euroseas in a research report on Monday, September 9th. They issued a “buy” rating and a $60.00 price target for the company.

Euroseas Stock Down 0.0 %

Euroseas stock opened at $49.42 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm has a market cap of $346.24 million, a P/E ratio of 3.24 and a beta of 0.84. The business has a fifty day moving average of $42.92 and a two-hundred day moving average of $38.82. Euroseas has a twelve month low of $22.50 and a twelve month high of $49.80.

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

Euroseas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were paid 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 4.86%. Euroseas’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Investors Weigh In On Euroseas

Several institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in Euroseas by 42.5% in the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock valued at $424,000 after buying an additional 3,617 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Euroseas by 3.0% in the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after purchasing an additional 2,877 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Euroseas by 2.2% in the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after purchasing an additional 1,602 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Euroseas during the 2nd quarter worth approximately $248,000. Finally, Beacon Capital Management LLC purchased a new stake in Euroseas during the 1st quarter worth approximately $36,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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.