FY2024 EPS Estimates for Euroseas Raised by Noble Financial

Euroseas Ltd. (NASDAQ:ESEA) – Investment analysts at Noble Financial boosted their FY2024 earnings per share estimates for shares of Euroseas in a note issued to investors on Wednesday, October 23rd. Noble Financial analyst M. Reichman now forecasts that the shipping company will earn $15.06 per share for the year, up from their previous forecast of $14.99. 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’ 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 earnings per share (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 business had revenue of $60.29 million for the quarter, compared to the consensus estimate of $49.33 million.

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

Euroseas Price Performance

ESEA opened at $41.94 on Thursday. Euroseas has a 12-month low of $22.50 and a 12-month high of $50.92. 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 simple moving average is $44.79 and its 200-day simple moving average is $40.01. The company has a market capitalization of $293.83 million, a price-to-earnings ratio of 2.75 and a beta of 0.85.

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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date was Monday, September 9th. Euroseas’s dividend payout ratio (DPR) is currently 15.76%.

Institutional Investors Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BayBridge Capital Group LLC grew its stake in shares of Euroseas by 8.7% during the third quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock worth $647,000 after acquiring an additional 1,057 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Euroseas by 6.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 7,593 shares of the shipping company’s stock worth $371,000 after purchasing an additional 485 shares during the period. Inspire Investing LLC acquired a new stake in shares of Euroseas during the third quarter worth about $913,000. Squarepoint Ops LLC lifted its holdings in shares of Euroseas by 42.5% during the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company’s stock worth $424,000 after purchasing an additional 3,617 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock worth $3,403,000 after purchasing an additional 2,877 shares during the period. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

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.