Euroseas (NASDAQ:ESEA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Euroseas (NASDAQ:ESEA) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also weighed in on ESEA. Alliance Global Partners assumed coverage on Euroseas in a research note on Monday, September 9th. They set a buy rating and a $60.00 price objective on the stock. Noble Financial raised shares of Euroseas to a strong-buy rating in a research report on Wednesday, July 10th.

Euroseas Stock Performance

NASDAQ:ESEA opened at $42.39 on Friday. The company has a market cap of $296.98 million, a P/E ratio of 2.78 and a beta of 0.85. Euroseas has a twelve month low of $22.50 and a twelve month high of $50.92. The company’s 50-day moving average price is $44.84 and its 200-day moving average price is $39.68. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $2.43. The business had revenue of $60.29 million for the quarter, compared to analyst estimates of $49.33 million. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. On average, sell-side analysts forecast that Euroseas will post 14.99 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 5.66%. Euroseas’s payout ratio is 15.76%.

Institutional Investors Weigh In On Euroseas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Euroseas during the 4th quarter worth about $350,000. Tucker Asset Management LLC acquired a new stake in shares of Euroseas during the fourth quarter valued at about $86,000. Quadrature Capital Ltd raised its stake in shares of Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after acquiring an additional 15,618 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Euroseas in the 1st quarter worth approximately $1,300,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares during the period. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Euroseas Company Profile

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.