Euroseas (NASDAQ:ESEA) Share Price Crosses Above 200 Day Moving Average of $33.27

Euroseas Ltd. (NASDAQ:ESEA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $33.27 and traded as high as $36.40. Euroseas shares last traded at $35.46, with a volume of 27,676 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Euroseas from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 20th.

Euroseas Trading Down 0.7 %

The firm has a market cap of $248.57 million, a price-to-earnings ratio of 2.15 and a beta of 0.88. The business’s 50 day moving average price is $35.59 and its 200-day moving average price is $33.27. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.29.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Wednesday, February 21st. The shipping company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($0.24). Euroseas had a return on equity of 45.15% and a net margin of 60.50%. The company had revenue of $50.69 million during the quarter, compared to the consensus estimate of $50.97 million. Equities analysts expect that Euroseas Ltd. will post 11.64 EPS for the current year.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 6.77%. Euroseas’s payout ratio is currently 14.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in Euroseas in the third quarter worth about $551,000. Quadrature Capital Ltd bought a new position in shares of Euroseas in the third quarter valued at approximately $807,000. Janney Montgomery Scott LLC increased its stake in shares of Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after acquiring an additional 2,693 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in Euroseas during the first quarter worth approximately $1,300,000. Finally, Tucker Asset Management LLC acquired a new stake in Euroseas in the fourth quarter worth approximately $86,000. 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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.