Euroseas Gains 50% Year to Date: Too Late to Buy ESEA Stock?

Zacks09-23

Euroseas Limited ESEA continues to benefit from upbeat global trade and container shipping demand. ESEA shares have performed well on the bourses, gaining 49.7% year to date, handily outperforming its...

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ESEA shares have performed well on the bourses, gaining 49.7% year to date, handily outperforming its...</p>\n\n<a href=\"https://finance.yahoo.com/news/euroseas-gains-50-date-too-131300615.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Euroseas Gains 50% Year to Date: Too Late to Buy ESEA Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEuroseas Gains 50% Year to Date: Too Late to Buy ESEA Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-23 21:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/euroseas-gains-50-date-too-131300615.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Euroseas Limited ESEA continues to benefit from upbeat global trade and container shipping demand. ESEA shares have performed well on the bourses, gaining 49.7% year to date, handily outperforming its...</p>\n\n<a href=\"https://finance.yahoo.com/news/euroseas-gains-50-date-too-131300615.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ESEA","symbol_name":"Euroseas Ltd","start_time":0,"source_url":"https://finance.yahoo.com/news/euroseas-gains-50-date-too-131300615.html","article_id":"2469454261","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/fQdAvaW92mX2nsT7hmgaNA--~B/aD01MDg7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/bdd59e6db25ac43e6109a4e27ccf3b72"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2469454261","pubTimestamp":1727097180,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Technical indicators suggest continued strong performance for ESEA. The stock trades above its 50-day moving average, signaling robust upward momentum and price stability. This technical strength underscores positive market sentiment and confidence in ESEA’s financial health and prospects.In view of the northward movement of ESEA stock, investors must be wondering if they should lock in profits or buy the stock for more upside potential.Let’s delve into the company’s fundamentals to determine the best course of action.Red Sea Crisis Pushes Ocean Freight Rates Up:A Tailwind for ESEA. Additionally, the board declared a quarterly dividend of 60 cents per share . ESEA’s shareholder-friendly approach throws light on its financial prosperity. The shipping company’s high dividend yield is a huge positive for income-seeking investors. This highlights confidence in its cash flow and prospects. (Check Eurose","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ESEA":"Euroseas Ltd","FRO":"FRONTLINE PLC","BK4144":"石油与天然气的储存和运输","BK4563":"昨日强势股","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4021":"海运","SHIP":"Seanergy Maritime Holdings Corp"},"translate_title":"Euroseas今年迄今上涨50%：购买ESEA股票为时已晚？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ESEA":1,"FRO":1,"SHIP":1},"content_text":"Euroseas Limited ESEA continues to benefit from upbeat global trade and container shipping demand. ESEA shares have performed well on the bourses, gaining 49.7% year to date, handily outperforming its industry and other industry players like Seanergy Maritime Holdings SHIP and Frontline Plc FRO.\nYTD Share Price Comparison\n Image Source: Zacks Investment Research\nTechnical indicators suggest continued strong performance for ESEA. The stock trades above its 50-day moving average, signaling robust upward momentum and price stability. This technical strength underscores positive market sentiment and confidence in ESEA’s financial health and prospects.\n50-Day Moving Average of ESEA Stock\nImage Source: Zacks Investment Research\nIn view of the northward movement of ESEA stock, investors must be wondering if they should lock in profits or buy the stock for more upside potential.\nLet’s delve into the company’s fundamentals to determine the best course of action.\nRed Sea Crisis Pushes Ocean Freight Rates Up: A Tailwind for ESEA\nEuroseas is an owner and operator of container carrier vessels and a provider of seaborne transportation for containerized cargoes. The company has been benefiting from profitable contracts and maintains a time charter equivalent rate or TCE of more than $30,000 per day.\nThe Houthi militants' attacks on vessels passing through the southern Red Sea have crippled trade through the Suez Canal, driving many container shipping companies like ESEA to add 10-14 days to the voyages between Asia and Europe. The current Red Sea crisis has prompted the usage of more vessels. As a result, the crisis is causing a shortage of shipping containers.\nReduced container availability due to the Red Sea tensions has resulted in a rise in freight costs. Lower capacity has boosted earnings. Rates are likely to remain high for quite some time, which may translate into further upside potential for shipping stocks like ESEA.\nStrong Q2 Results of ESEA\nLast month, ESEA reported better-than-expected earnings per share and revenues for the second quarter of 2024. Revenues increased 26.4% year over year, driven by the increased time charter rates earned by the company’s vessels. The increase in the average number of vessels owned and operated in the second quarter of 2024 also resulted in an uptick.\nIn the June quarter, daily vessel operating expenses, including management fees but excluding drydocking costs, averaged $6,612 per vessel per day, down 7.1% year over year due to lower daily operating costs of the six new building vessels delivered within the past 14 months. This reduction aided the bottom line in the second quarter.\nAdditionally, the board declared a quarterly dividend of 60 cents per share ($2.40 annualized). ESEA’s shareholder-friendly approach throws light on its financial prosperity. The shipping company’s high dividend yield is a huge positive for income-seeking investors. This highlights confidence in its cash flow and prospects.  (Check Euroseas’ dividend history here).\nThe company is also active on the buyback front. While releasing second-quarter results, the company stated that as of Aug. 6, 2024, 400,705 shares of common stock were bought back by it for $8.2 million since the initiation of the share repurchase plan of up to $20 million, which was announced in May 2022. The company’s focus on returning value to customers through share buybacks and dividends is highly commendable and should stand it in good stead going forward.\nESEA Trades at a Discount Compared to Industry\nFrom a valuation standpoint, ESEA stock is currently trading at a price-to-book of 1.02X, which is below the industry’s 2.98X. The reading is also near its 3-year median level. The stock, having a Value Score of A, seems to be undervalued now.\n Image Source: Zacks Investment Research\nEarnings Estimate Revisions Favoring ESEA Stock\nReflecting the positive sentiment around ESEA, the Zacks Consensus Estimate for earnings per share has seen upward revisions, as shown below.\nImage Source: Zacks Investment Research\nFinal Verdict \nGiven the positives surrounding the ESEA stock, as highlighted throughout the write-up, we believe that it’s not too late for investors looking to add ESEA stock to their portfolios for healthy returns. They can still invest in the stock, considering that it currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nFrontline PLC (FRO) : Free Stock Analysis Report\nEuroseas Ltd. (ESEA) : Free Stock Analysis Report\nSeanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2469454261"}