6/4/2008 6.83%

DIV

Hold - Price 11.75 on Feb. 12
by Cantor Fitzgerald

Euroseas declared 30-cent dividend for 4Q07 ...1 cent above the previous quarter's dividend and our forecast. Annualized, this represents a 10.21% yield...ESEA also announced it had secured a one-year time charter for the 1993-built Panamax bulk carrier Aristides at a gross daily rate of $52,000, a $23,000-a-day increase from the previous charter and $9,000 per day higher than our...forecast...We now expect 2008 EPS to be $1.83 (from $1.75) and 2008 Ebitda to be $85 million (from $82 million). We're raising our '08 dividend estimate to $1.20 (from $1.16); '07 estimates remain unchanged. 18 target. Market-cap: $354 million.

This one seemed to have a good valuation with lots of upside.

up

Upgraded by Oppenheimer from Neutral to Buy

undervalued w/ good growth

n/t

6/01/07