Euroseas Ltd. (ESEA) Dips More Than Broader Markets: What You Should Know
Euroseas Ltd. (ESEA) closed the most recent trading day at $20.01, moving -0.99% from the previous trading session. This move lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had lost 4.89% in the past month. In that same time, the Transportation sector gained 3.2%, while the S&P 500 gained 4.58%.
Wall Street will be looking for positivity from Euroseas Ltd. as it approaches its next earnings report date. On that day, Euroseas Ltd. is projected to report earnings of $3.47 per share, which would represent year-over-year growth of 199.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.37 million, up 101.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.43 per share and revenue of $196.1 million, which would represent changes of +156.74% and +100.14%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Euroseas Ltd.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Euroseas Ltd. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Euroseas Ltd. has a Forward P/E ratio of 1.31 right now. For comparison, its industry has an average Forward P/E of 3.42, which means Euroseas Ltd. is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ESEA in the coming trading sessions, be sure to utilize Zacks.com.
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