"For 2011, we look for PRGN to generate EPS of 40 cents and EBITDA of $70 million. We note that our 2011 estimates assume the company's open vessels achieve an average daily rate of $18,000 for the Handymaxes."
Euroseas posted a smaller-than-expected loss but revenue came in shy of expectations.
The dry-bulk carrier saw its shares fall 2% in afternoon trading Tuesday.-- Written by Miriam Marcus Reimer in New York.
>To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: email@example.com.
>>See our new stock quote page. Get more stock ideas and investing advice on our sister site, Stockpickr.com.