Univest Sec Brokers Decrease Earnings Estimates for Euroseas Ltd. (NASDAQ:ESEA)

Euroseas Ltd. (NASDAQ:ESEAGet Rating) – Analysts at Univest Sec reduced their Q4 2022 earnings estimates for Euroseas in a research note issued to investors on Wednesday, November 16th. Univest Sec analyst J. Jang now forecasts that the shipping company will post earnings of $2.44 per share for the quarter, down from their previous estimate of $3.82. The consensus estimate for Euroseas’ current full-year earnings is $15.43 per share. Univest Sec also issued estimates for Euroseas’ Q1 2023 earnings at $2.44 EPS, Q2 2023 earnings at $3.65 EPS, Q3 2023 earnings at $4.11 EPS, Q4 2023 earnings at $3.59 EPS, FY2023 earnings at $13.79 EPS, Q1 2024 earnings at $3.06 EPS, Q2 2024 earnings at $4.31 EPS, Q3 2024 earnings at $5.68 EPS and FY2024 earnings at $21.12 EPS.

Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of Euroseas from a “b” rating to a “c+” rating in a research note on Monday, September 26th. StockNews.com lowered shares of Euroseas from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Finally, Maxim Group cut their price objective on shares of Euroseas from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, October 6th.

Euroseas Stock Performance

Euroseas stock opened at $20.56 on Monday. The company has a 50 day moving average price of $20.59 and a 200-day moving average price of $23.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.18 and a current ratio of 0.62. Euroseas has a fifty-two week low of $18.30 and a fifty-two week high of $35.47. The company has a market capitalization of $149.96 million, a PE ratio of 1.37 and a beta of 0.62.

Hedge Funds Weigh In On Euroseas

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Euroseas by 10.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,425 shares of the shipping company’s stock worth $249,000 after purchasing an additional 977 shares during the last quarter. UBS Group AG grew its holdings in Euroseas by 375.3% in the first quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock worth $238,000 after purchasing an additional 6,500 shares during the last quarter. M&T Bank Corp purchased a new position in Euroseas in the first quarter worth $200,000. Walleye Trading LLC purchased a new position in Euroseas in the first quarter worth $221,000. Finally, Dupont Capital Management Corp purchased a new position in Euroseas in the second quarter worth $184,000. 6.75% of the stock is owned by hedge funds and other institutional investors.

Euroseas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 9.73%. The ex-dividend date is Thursday, December 8th. Euroseas’s payout ratio is 13.33%.

Euroseas Company Profile

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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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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Earnings History and Estimates for Euroseas (NASDAQ:ESEA)

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