Euroseas (ESEA) Gets a Buy Rating from Maxim Group


In a report released today, James Jang from Maxim Group maintained a Buy rating on Euroseas (ESEA), with a price target of $3. The company’s shares opened today at $1.18, close to its 52-week low of $1.08.

Jang observed:

“Euroseas (ESEA) reported 3Q18 results yesterday, after the close with vessels repairs and off-hire days leading to a miss on the bottom line.”

According to TipRanks.com, Jang is a 4-star analyst with an average return of 12.0% and a 40.5% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Nordic American Tanker, and Eagle Bulk Shipping.

Euroseas has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.

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Based on Euroseas’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.66 million. In comparison, last year the company had a GAAP net loss of $4.82 million.

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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.

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