Thursday, May 30, 2019

Euroseas Ltd. (ESEA)

Heading for a Rebound?

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. 

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

• Quarterly results up sequentially due to stabilizing container market. Excluding drydock expenses, adjusted EBITDA was $2.0 million was line with our estimate of $2.1 million and sequentially above 4Q2018 adjusted EBITDA of $1.6 million, mainly due to slightly higher time equivalent (TCE) rates.
• Fine-tuning 2019 EBITDA estimate to reflect quarterly results and market improvement later this year. We estimate adjusted EBITDA of $9.4 mill…

Get full report on Channelchek desktop.

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.