Q3 Earnings Estimate for Euroseas Issued By Noble Financial

Euroseas Ltd. (NASDAQ:ESEA) – Equities researchers at Noble Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of Euroseas in a report issued on Wednesday, October 23rd. Noble Financial analyst M. Reichman now expects that the shipping company will post earnings per share of $3.77 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.

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

Euroseas Stock Performance

Shares of NASDAQ ESEA opened at $41.94 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41. The firm has a market cap of $294.00 million, a price-to-earnings ratio of 2.48 and a beta of 0.85. The stock’s fifty day moving average price is $44.79 and its two-hundred day moving average price is $40.05. Euroseas has a one year low of $22.50 and a one year high of $50.92.

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

Institutional Investors Weigh In On Euroseas

A number of large investors have recently bought and sold shares of the company. BayBridge Capital Group LLC lifted its holdings in shares of Euroseas by 8.7% during the 3rd 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 period. Redhawk Wealth Advisors Inc. lifted its stake in 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 last quarter. Inspire Investing LLC acquired a new stake in shares of Euroseas in the 3rd quarter valued at $913,000. Squarepoint Ops LLC increased its stake in shares of Euroseas by 42.5% in the 2nd 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 last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock worth $3,403,000 after buying an additional 2,877 shares in the last quarter. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Monday, September 9th. Euroseas’s dividend payout ratio (DPR) is presently 14.18%.

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.