Euroseas (ESEA) Receives a Buy from Maxim Group

Maxim Group analyst Tate Sullivan maintained a Buy rating on Euroseas (ESEAResearch Report) yesterday and set a price target of $54.00. The company’s shares opened today at $27.20.

Sullivan covers the Industrial Goods sector, focusing on stocks such as Seanergy Maritime, Euroseas, and Globus Maritime. According to TipRanks, Sullivan has an average return of 16.0% and a 43.14% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Euroseas with a $51.00 average price target, which is an 87.50% upside from current levels. In a report released today, Noble Financial also reiterated a Buy rating on the stock with a $49.00 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 $45.37 million and a net profit of $29.94 million. In comparison, last year the company earned a revenue of $14.31 million and had a net profit of $3.79 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.

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