Euroseas Ltd. (NASDAQ:ESEA) Plans Dividend Increase – $0.50 Per Share

Euroseas Ltd. (NASDAQ:ESEAGet Rating) declared a quarterly dividend on Monday, May 23rd, Zacks reports. Investors of record on Thursday, June 9th will be paid a dividend of 0.50 per share by the shipping company on Thursday, June 16th. This represents a $2.00 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend is Wednesday, June 8th. This is an increase from Euroseas’s previous quarterly dividend of $0.12.

ESEA stock traded down $1.02 during trading on Wednesday, hitting $29.18. 105 shares of the company’s stock traded hands, compared to its average volume of 110,879. The stock has a market capitalization of $212.84 million, a price-to-earnings ratio of 5.08 and a beta of 0.53. Euroseas has a 52 week low of $13.72 and a 52 week high of $39.17. The stock has a fifty day moving average price of $26.40 and a two-hundred day moving average price of $27.10. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 1.16.

Euroseas (NASDAQ:ESEAGet Rating) last released its quarterly earnings data on Monday, May 23rd. The shipping company reported $4.13 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.53. Euroseas had a net margin of 45.67% and a return on equity of 81.90%. During the same quarter last year, the business earned $0.45 EPS. As a group, equities research analysts expect that Euroseas will post 14.47 EPS for the current fiscal year.

A number of research analysts recently issued reports on ESEA shares. Univest Sec began coverage on Euroseas in a research report on Thursday, May 19th. They set a “buy” rating for the company. TheStreet cut shares of Euroseas from a “b-” rating to a “c+” rating in a report on Thursday, April 7th. StockNews.com started coverage on shares of Euroseas in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research cut shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Euroseas presently has an average rating of “Buy” and a consensus target price of $36.33.

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Euroseas by 157.6% in the third quarter. Morgan Stanley now owns 59,844 shares of the shipping company’s stock valued at $2,012,000 after acquiring an additional 36,612 shares during the last quarter. Walleye Capital LLC acquired a new stake in Euroseas in the first quarter valued at approximately $766,000. LPL Financial LLC acquired a new stake in Euroseas in the third quarter valued at approximately $857,000. Millennium Management LLC acquired a new stake in Euroseas in the second quarter valued at approximately $294,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Euroseas in the first quarter valued at approximately $308,000. Institutional investors and hedge funds own 7.33% of the company’s stock.

Euroseas Company Profile (Get Rating)

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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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