Noble Financial analyst Poe Fratt maintained a Buy rating on Euroseas (ESEA) today and set a price target of $6.35. The company’s shares closed last Friday at $3.30.
According to TipRanks.com, Fratt has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.7% and a 46.6% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Grindrod Shipping Holdings, Great Lakes Dredge & Dock, and Orion Group Holdings.
Currently, the analyst consensus on Euroseas is a Moderate Buy with an average price target of $5.55, a 71.5% upside from current levels. In a report issued on November 20, Maxim Group also maintained a Buy rating on the stock with a $4.75 price target.
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Based on Euroseas’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $13.51 million and net profit of $1.29 million. In comparison, last year the company earned revenue of $8.08 million and had a GAAP net loss of $749.6K.
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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. The firm also owns drybulk carriers that transport major bulks such as iron ore, coal and grains, and minor bulks such as bauxite, phosphate and fertilizers. The company was founded on May 5, 2005 and is headquartered in Athens, Greece.
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