Q3 Earnings Estimate for Euroseas Issued By Noble Financial

Euroseas Ltd. (NASDAQ:ESEA) – Noble Financial cut their Q3 2024 EPS estimates for Euroseas in a research report issued 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 prior estimate 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 equities analysts have also recently weighed in on the company. Alliance Global Partners started coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock. StockNews.com raised shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th.

Euroseas Stock Down 1.4 %

NASDAQ:ESEA opened at $41.94 on Friday. Euroseas has a 1 year low of $22.50 and a 1 year high of $50.92. The stock has a 50-day moving average price of $44.79 and a two-hundred day moving average price of $40.05. The stock has a market cap of $294.00 million, a price-to-earnings ratio of 2.48 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $2.43. The company had revenue of $60.29 million during the quarter, compared to analyst estimates 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.72%. Euroseas’s dividend payout ratio (DPR) is 14.18%.

Institutional Investors Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently bought and sold shares of ESEA. Beacon Capital Management LLC acquired a new position in Euroseas during the first quarter worth $36,000. Redhawk Wealth Advisors Inc. acquired a new position in Euroseas during the second quarter worth $248,000. Lazard Asset Management LLC raised 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 worth $294,000 after acquiring an additional 7,976 shares in the last quarter. Squarepoint Ops LLC grew its position 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 acquiring an additional 3,617 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares during the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

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.