Euroseas (NASDAQ:ESEA) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Euroseas (NASDAQ:ESEA) in a research report sent to investors on Friday morning. The brokerage issued a buy rating on the shipping company’s stock.

Euroseas Stock Up 0.2 %

Shares of ESEA opened at $32.58 on Friday. Euroseas has a 52-week low of $30.21 and a 52-week high of $50.92. The company has a market capitalization of $228.26 million, a PE ratio of 2.01 and a beta of 0.72. The stock has a fifty day simple moving average of $33.30 and a two-hundred day simple moving average of $38.46. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.98%. This is an increase from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, March 11th. Euroseas’s dividend payout ratio (DPR) is presently 16.10%.

Institutional Trading of Euroseas

A number of hedge funds and other institutional investors have recently modified their holdings of ESEA. Arrowstreet Capital Limited Partnership increased its position in shares of Euroseas by 389.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock worth $1,949,000 after purchasing an additional 42,830 shares during the last quarter. Millennium Management LLC increased its position in shares of Euroseas by 661.4% during the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock worth $1,482,000 after purchasing an additional 35,555 shares during the last quarter. Novem Group acquired a new stake in shares of Euroseas during the 4th quarter worth about $847,000. Marshall Wace LLP increased its position in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock worth $1,473,000 after purchasing an additional 16,969 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock worth $4,166,000 after purchasing an additional 16,700 shares during the last quarter. 6.27% of the stock is owned by institutional investors and hedge funds.

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.