Euroseas (NASDAQ:ESEA) Upgraded at StockNews.com

StockNews.com upgraded shares of Euroseas (NASDAQ:ESEA) from a hold rating to a buy rating in a research note released on Monday morning.

Euroseas Stock Down 0.6 %

NASDAQ ESEA opened at $33.07 on Monday. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $33.75 and its two-hundred day moving average is $39.20. The company has a market capitalization of $231.69 million, a price-to-earnings ratio of 2.04 and a beta of 0.85. Euroseas has a 1-year low of $30.21 and a 1-year high of $50.92.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 7.86%. 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 payout ratio is presently 16.10%.

Institutional Investors Weigh In On Euroseas

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC acquired a new stake in Euroseas during the third quarter valued at approximately $248,000. Retireful LLC acquired a new stake in Euroseas during the fourth quarter valued at approximately $222,000. Exchange Traded Concepts LLC acquired a new stake in Euroseas during the fourth quarter valued at approximately $306,000. Sheaff Brock Investment Advisors LLC boosted its holdings in Euroseas by 25.0% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Euroseas by 67.5% in the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after acquiring an additional 251 shares in the last quarter. 6.27% of the stock is owned by institutional investors and hedge funds.

About Euroseas

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.