Maxim Group Sticks to Their Buy Rating for Euroseas

In a report released today, James Jang from Maxim Group maintained a Buy rating on Euroseas (NASDAQ: ESEA), with a price target of $3. The company’s shares opened today at $2.20.

Jang wrote:

“Euroseas (ESEA) reported 1Q18 results this morning, with mixed results as net revenues were in-line with our estimates, but EBITDA and EPS missed on a disproportionate number of dry dockings and higher costs in the quarter of approximately $0.43 per share..”

According to TipRanks.com, Jang is a 5-star analyst with an average return of 26.2% and a 45.8% 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 December 31, the company reported a quarterly net profit of $1.95 million. In comparison, last year the company had a GAAP net loss of $2.19 million.

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Euroseas Ltd. engages in the ocean transportation of dry bulk and containers through ownership and operation of dry bulk and container carriers. It provides ocean going transportation services.