tasari
3年前
Container sector is so hot that ships rent for $200,000/day
Euroseas (NASDAQ: ESEA) confirmed this week that it chartered its 2009-built, 4,250-twenty-foot equivalent unit container ship Synergy Oakland for 60-85 days at a gross rate of $195,000-$202,000 per day starting in the second half of October.
https://www.hellenicshippingnews.com/container-sector-is-so-hot-that-ships-rent-for-200000-day/
tasari
4年前
Proven again... with the results going down ( sell on news ) but after it goes back up, we are at highest price of the year now !!
Which is normal, the 1st quarter was almost the same EPS for the whole year 2020 !! This year it is even to grow more, the company has higher prices for their cargos..
EPS 2021 between $3 and $5, with P/E of around 30, meaning it could go between $90 and $150 ! Wooow amazing...
If you don't believe me do check yourself
Here overview of last 4 years - look all the numbers going all the same way !
https://www.otcmarkets.com/stock/ESEA/financials
tasari
4年前
Earnings are out !!! Really good numbers :
Revenue : $ 14,31M
=> highest revenue since earnings announcement 27 march 2020 => Q1 20202 !!
EPS : $ 0,53
=> triple of the result of 27 march 2020 ( Q1 2020 ) => higher than more than 8 years, yes 8 years !
The agreements are already renewed with higher value per contract.
So if 0,53 for each quarter ( like Q1 2021 ),
this means around $2 EPS for 2021 with P/E of 30 => stock price will be $60 and this is the lowest price, because normally the EPS will go up gradually easily to $2,5 so $75 for stock price, and of course the stock price always base itself on "future" earnings...
This company is back on track after soooo many years going not soo good at all !! Excellent news !!
tasari
4年前
All be ready for some action...
The earnings are coming out very soon, the latest next week.
The earnings of Q1 2021, it will be very positive EPS !!
The company had renewed their contracts for much higher price, multiple once. This means the company will probably have $2 per share of earnings, so much more potential to the upside ( this is low estimation, normally should go up each quarter to $2,5 ! )
tasari
4年前
Excellent news about future earnings - Zacks
Euroseas Ltd. consolidates the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas operates in the dry cargo, dry bulk and container shipping markets. Its management and operations are carried out by Eurobulk Ltd. The company employs its vessels on spot and period charters and through pool arrangements.
This year, the company is expected to grow revenue and earnings by 46.5% and 674.1%, respectively. The Zacks Consensus Estimate for the year jumped 93 cents (26.1%) in the last 30 days.
https://www.hellenicshippingnews.com/zacks-eagle-bulk-shipping-euroseas-genco-shipping-trading-navios-maritime-partners-and-orient-overseas/
tasari
4年前
The positive news of the last month gives an excellent support to the stock ESEA !!
Yesterday it started its move up again => +7,74%
And there is more to come, the earnings result will be much better but the next earnings even better, the stock is going to go up again, higher than the previous time, the earnings are out in good 3 weeks.
This stock will easily go up till $28-30 thanks to the better deals for next quarters !
crudeoil24
4年前
Euroseas Ltd. Announces New Charters For Two Of Its Vessels, M/V 'Synergy Busan' And M/V 'EM Kea'; New Charters Secure Minimum Of $40M In Revenue
8:41 am ET March 17, 2021 (Benzinga) Print
ATHENS, Greece, March 17, 2021 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ:ESEA, the &ldquo, Company&rdquo, or &ldquo, Euroseas&rdquo, )), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today the extension of the charter of its container vessels M/V “EM Kea” and a new time charter contract for its container vessel M/V “Synergy Busan”. Specifically:
The charter of M/V “EM Kea”, a 3,091 TEU vessel built in 2007, was extended for a period between a minimum of twenty-five and a maximum of twenty-eight months at the option of the charterer, at a daily rate of $22,000. The new rate will commence on April 25, 2021 about 2 months earlier than the latest expiration of the present charter.
M/V “Synergy Busan”, a 4,253 TEU vessel built in 2009, entered into a new time charter contract for a period of between a minimum of thirty-six and a maximum of forty months at the option of the charterer, at a daily rate of $25,000. The new rate will commence between June 9, 2021 and August 9, 2021 when the vessel will be redelivered from its current charterer.
Aristides Pittas, Chairman and CEO of Euroseas, commented: “We are very pleased to announce new charters for two of our vessels for periods of at least two and three years, respectively, at rates more than twice the levels of their existing employment. The new charters secure a minimum of $40m of contracted revenues and make an annualized EBITDA contribution of approximately $11.5m which is about $9.0m higher than, or 4.5 times, their present contribution of about $2.5m, significantly improving our profitability and cash flow visibility.
“Undoubtedly, the containership markets have had a remarkable run over the last six months with all factors in the marketplace suggesting continuing strength. After these two charters, seven of our fourteen vessels would be earning higher rates reflective of the recent market recovery. If the present market levels continue, renewals of the five remaining charters with legacy rates expiring in 2021 should result in significant further increase in our profitability. The cash flow generated would be available to further strengthen our balance sheet, be used for further investment or for reinstitution of dividends or a combination thereof, as always, at the discretion of our Board or Directors.”
tasari
4年前
Excellent news for this company !!!
I quote :
“The new charters secure a minimum of $40M of contracted revenues and make an annualized EBITDA contribution of ~$11.5M which is about $9.0m higher than, or 4.5 times, their present contribution of about $2.5m, significantly improving our profitability and cash flow visibility,” commented Aristides Pittas, CEO.
Euroseas announces new charters for its vessels, m/v Synergy Busan and M/V EM Kea :
https://seekingalpha.com/news/3673570-euroseas-announces-new-charters-for-its-vessels-mv-synergy-busan-and-mv-em-kea
tasari
4年前
Our fleet benefitted from the market increase as four of our vessels renewed their charters at rates more than double their previous levels and are set to make significant contributions to our earnings. We remain very optimistic for the medium term prospects of the market due to the relatively low orderbook, the expected rebound of the containerized trade, especially, if the COVID-19 pandemic comes under control and the expanding regulatory and environmental requirements that effectively increase the need for more vessel capacity. If, as result of the above trends, the charter rates remain near their current levels for the next four to five months, we should be able to renew the charters of almost all of our vessels at similarly higher rates than they currently earn further contributing to our profitability.
https://seekingalpha.com/pr/18206747-euroseas-ltd-reports-results-for-year-and-quarter-ended-december-31-2020
whytestocks
5年前
News: $ESEA Euroseas Ltd. Announces Completion of Reverse Stock Split
MAROUSSI, ATHENS, Greece, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today that...
In case you are interested ESEA - Euroseas Ltd. Announces Completion of Reverse Stock Split
whytestocks
5年前
News: $ESEA Euroseas Ltd. Announces Charter for its Intermediate-size Container Vessel, M/V Akinada Bridge
MAROUSSI, ATHENS, Greece, Sept. 30, 2019 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today its conta...
Find out more ESEA - Euroseas Ltd. Announces Charter for its Intermediate-size Container Vessel, M/V Akinada Bridge
whytestocks
6年前
News: $ESEA Euroseas Ltd. Announces Three Transformative Transactions Reducing its Cost of Capital and Significantly Expanding its Fleet: Refinancing of Two Vessels, Partial Redemption of the Majority of its Preferred Shares and Acquisition of Four Vessels
MAROUSSI, ATHENS, Greece, June 03, 2019 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, today announced its entry ...
Got this from https://marketwirenews.com/news-releases/euroseas-ltd-announces-three-transformative-transactions-reducing-its-cost-of-capital-and-significantly-expanding-its-fleet-refinancing-of-two-vessels-partial-redemption-of-the-majority-of-its-preferred-shares-and-acquisition-of-four-vessel-8289292.html
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