Euroseas Ltd. (NASDAQ:ESEA) Raises Dividend to $0.50 Per Share

Euroseas Ltd. (NASDAQ:ESEAGet Rating) announced a quarterly dividend on Monday, May 23rd, Zacks reports. Stockholders 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 dividend yield of 6.80%. The ex-dividend date of this dividend is Wednesday, June 8th. This is a boost from Euroseas’s previous quarterly dividend of $0.12.

NASDAQ:ESEA traded down $0.79 during trading hours on Wednesday, hitting $29.41. 205 shares of the company’s stock traded hands, compared to its average volume of 110,879. The firm has a market cap of $214.52 million, a P/E ratio of 5.08 and a beta of 0.53. Euroseas has a twelve month low of $13.72 and a twelve month high of $39.17. The company has a debt-to-equity 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.

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

ESEA has been the topic of several recent analyst reports. TheStreet lowered Euroseas from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. StockNews.com started coverage on Euroseas in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Univest Sec started coverage on Euroseas in a research report on Thursday, May 19th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. 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 modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Euroseas by 2,272.7% during the 2nd quarter. Wells Fargo & Company MN now owns 3,132 shares of the shipping company’s stock valued at $72,000 after acquiring an additional 3,000 shares during the last quarter. Walleye Trading LLC acquired a new position in shares of Euroseas during the 1st quarter valued at about $221,000. UBS Group AG increased its holdings in shares of Euroseas by 375.3% during the 1st quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock valued at $238,000 after acquiring an additional 6,500 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Euroseas during the 3rd quarter valued at about $282,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Euroseas during the 1st quarter valued at about $274,000. 7.33% of the stock is currently owned by institutional investors and hedge funds.

About Euroseas (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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