Noble Financial Keeps Their Buy Rating on Euroseas (ESEA)

By Carrie Williams

Noble Financial analyst Poe Fratt maintained a Buy rating on Euroseas (ESEAResearch Report) today and set a price target of $30.00. The company’s shares closed last Thursday at $19.12.

According to TipRanks.com, Fratt is a top 100 analyst with an average return of 49.1% and a 56.6% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Grindrod Shipping Holdings, and Great Lakes Dredge & Dock.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Euroseas with a $34.00 average price target.

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Based on Euroseas’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $14.31 million and net profit of $3.79 million. In comparison, last year the company earned revenue of $15.43 million and had a net profit of $1.96 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. 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.