Maxim Group analyst James Jang maintained a Buy rating on Euroseas (NASDAQ: ESEA) today and set a price target of $3. The company’s shares closed on Friday at $1.63.
Jang observed:
“Following the spin-off of its six dry bulk vessels into a separate entity, EuroDry (EDRY – Buy), ESEA returned to profitability in 2Q18 with an operating EPS of $0.04, a penny better than our $0.03 expectation.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 18.2% and a 47.4% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Euroseas has an analyst consensus of Moderate Buy, with a price target consensus of $3.
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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 $1.04 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.
