Euroseas (NASDAQ:ESEA) Sets New 52-Week High – Here’s Why

Euroseas Ltd. (NASDAQ:ESEA)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $78.85 and last traded at $77.30, with a volume of 12631 shares traded. The stock had previously closed at $75.67.

Analyst Upgrades and Downgrades

ESEA has been the topic of a number of research reports. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Euroseas in a report on Monday, April 20th. Zacks Research raised shares of Euroseas from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Euroseas has a consensus rating of “Buy”.

Euroseas Trading Up 1.7%

The firm’s fifty day moving average price is $68.61 and its 200-day moving average price is $65.13. The company has a market cap of $543.55 million, a price-to-earnings ratio of 4.06 and a beta of 0.45. The company has a debt-to-equity ratio of 0.39, a current ratio of 5.46 and a quick ratio of 5.38.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.26 by $0.44. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. The business had revenue of $55.84 million for the quarter, compared to analysts’ expectations of $56.61 million. On average, equities analysts expect that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from Euroseas’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, June 9th. Euroseas’s dividend payout ratio is presently 16.86%.

Hedge Funds Weigh In On Euroseas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Euroseas by 1,611.0% in the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after acquiring an additional 1,756 shares during the period. Geode Capital Management LLC bought a new stake in shares of Euroseas during the second quarter valued at about $226,000. Jump Financial LLC bought a new stake in shares of Euroseas during the second quarter valued at about $260,000. Raymond James Financial Inc. acquired a new stake in Euroseas in the second quarter worth about $870,000. Finally, Jane Street Group LLC acquired a new stake in Euroseas in the second quarter worth about $259,000. 6.27% of the stock is owned by institutional investors.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.