In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Euroseas (ESEA), with a price target of $1. The company’s shares opened today at $0.62, close to its 52-week low of $0.53.
Sullivan commented:
“We reduce our 2019 EBITDA forecast to $4.3 million, from $4.8 million following results reported yesterday, post-close, as one of ESEA’s 11 ships will be idle from late April to early June 2019 before starting a new contract.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 3.6% and a 55.9% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Emcor Group Inc.
Currently, the analyst consensus on Euroseas is a Moderate Buy with an average price target of $1.43.
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The company has a one-year high of $3.87 and a one-year low of $0.53. Currently, Euroseas has an average volume of 127.7K.
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Euroseas Ltd. is a holding company, which engages in the provision of ocean-going transportation services. It operates containerships that transport dry and refrigerated containerized cargoes, mainly including manufactured products, and perishables.
