Deutsche Bank lowers its target on Euroseas ESEA to $3 from $4 as it reiterates its Hold rating on the company on market weakness concerns.
Deutsche Bank comments, "Last Thursday, ESEA reported Q4 adjusted EPS of $0.03/share, above our estimate of $0.02/share and Consensus of $0.02/share (only 2 estimates). The adjusted figure excludes $0.3 million ($0.01/share) of unrealized derivative and securities losses. Despite the upside to our estimates, ESEA has cut its quarterly dividend to $0.05/share from $0.07/share, resulting in an annualized dividend yield of 6.9% (as of 2/10). ESEA's limited container charter coverage and our continued weak container and dry bulk keep us on the Sidelines."
ESEA closed at $2.92 a share on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in