Euroseas Ltd. (NASDAQ:ESEA – Get a rating) announced a quarterly dividend on Monday, May 23, Zacks reports. Shareholders of record on Thursday, June 9 will be paid a dividend of 0.50 per share by the shipping company on Thursday, June 16. This represents an annualized dividend of $2.00 and a dividend yield of 6.80%. The ex-dividend date is Wednesday, June 8. This is a boost from the previous quarterly Euroseas dividend of $0.12.
NASDAQ:ESEA traded down $0.79 during Wednesday trading hours, hitting $29.41. 205 shares of the company have traded, compared to its average volume of 110,879. The company has a market capitalization of $214.52 million, a P/E ratio of 5.08 and a beta of 0.53. Euroseas has a 12-month low of $13.72 and a 12-month high of $39.17. The company has a debt ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.89. The stock’s fifty-day moving average price is $26.40 and its two-hundred-day moving average price is $27.10.
Euromer (NASDAQ:ESEA – Get a rating) last released its quarterly results on Monday, May 23. The shipping company reported earnings per share of $4.13 for the quarter, beating the consensus estimate of $3.60 by $0.53. Euroseas achieved a return on equity of 81.90% and a net margin of 45.67%. In the same quarter last year, the company achieved EPS of $0.45. On average, equity research analysts expect Euroseas to post 14.47 earnings per share for the current year.
ESEA has been the subject of several recent analyst reports. TheStreet downgraded Euroseas from a “b-” rating to a “c+” rating in a research report on Thursday 7 April. StockNews.com began covering Euroseas in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Univest Sec began covering Euroseas in a research report on Thursday May 19. They issued a “buy” rating on the stock. To finish, Zacks Investment Research downgraded Euroseas from a “buy” rating to a “hold” rating in a Wednesday, April 27 research report. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.33.
Hedge funds and other institutional investors have recently changed their holdings in the company. Wells Fargo & Company MN increased its equity stake in Euroseas by 2,272.7% during the second quarter. Wells Fargo & Company MN now owns 3,132 shares of the shipping company valued at $72,000 after acquiring 3,000 additional shares in the last quarter. Walleye Trading LLC acquired a new position in Euroseas shares during Q1 worth approximately $221,000. UBS Group AG increased its stake in Euroseas shares by 375.3% during the first quarter. UBS Group AG now owns 8,232 shares of the shipping company valued at $238,000 after acquiring an additional 6,500 shares in the last quarter. Jane Street Group LLC acquired a new position in Euroseas shares during Q3 valued at approximately $282,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Euroseas shares during Q1 worth approximately $274,000. 7.33% of the shares are currently held by institutional investors and hedge funds.
About Euroseas (Get a rating)
Euroseas Ltd. provides shipping services worldwide. The Company owns and operates container ships that transport dry and refrigerated containerized cargo, including manufactured goods and perishables. As of May 3, 2022, it had a fleet of 18 vessels, including 10 feeders and 8 intermediate container ships with a loading capacity of approximately 58,871 twenty-foot equivalent units (teu).
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