FEWER VESSELS - Co said Q2 revenue declined due to a lower average number of vessels owned and operated compared to prior year
HIGHER CHARTER RATES - Co said vessels earned 3% higher average charter rates per day in Q2 vs prior year
INCREASED OPERATING COSTS - Co said vessel operating expenses rose due to higher supply costs from Middle East conflict and inflation-adjusted management fees
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell". The average consensus recommendation for the marine freight & logistics peer group is "buy". Wall Street's median 12-month price target for Euroseas Ltd is $90.00, about 20.8% above its August 12 closing price of $74.48. The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago.
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