Euroseas (NASDAQ:ESEA) Issues Quarterly Earnings Results

Euroseas (NASDAQ:ESEA) posted its quarterly earnings results on Thursday. The shipping company reported $3.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.33), Zacks reports. Euroseas had a return on equity of 34.73% and a net margin of 54.21%.

Euroseas Stock Down 2.2 %

Shares of ESEA traded down $0.73 during trading hours on Thursday, reaching $33.25. The stock had a trading volume of 28,425 shares, compared to its average volume of 35,727. The firm has a 50-day simple moving average of $33.78 and a 200 day simple moving average of $39.54. Euroseas has a 12 month low of $30.21 and a 12 month high of $50.92. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $232.92 million, a price-to-earnings ratio of 2.05 and a beta of 0.85.

Institutional Investors Weigh In On Euroseas

A hedge fund recently raised its stake in Euroseas stock. Bank of America Corp DE lifted its position in Euroseas Ltd. (NASDAQ:ESEA) by 1,611.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,865 shares of the shipping company’s stock after acquiring an additional 1,756 shares during the quarter. Bank of America Corp DE’s holdings in Euroseas were worth $68,000 at the end of the most recent reporting period. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

Euroseas Company Profile

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.