Euroseas (NASDAQ:ESEA) Research Coverage Started at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Euroseas (NASDAQ:ESEA) in a research report released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 price target on the shipping company’s stock.

Separately, Noble Financial upgraded Euroseas to a strong-buy rating in a report on Wednesday, July 10th.

Euroseas Trading Up 2.6 %

Shares of NASDAQ:ESEA opened at $42.97 on Monday. Euroseas has a 12-month low of $22.50 and a 12-month high of $48.50. The business’s fifty day simple moving average is $41.27 and its 200-day simple moving average is $38.11. The company has a market capitalization of $301.22 million, a PE ratio of 2.82 and a beta of 0.84. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The business had revenue of $60.29 million for the quarter, compared to the consensus estimate of $49.33 million. As a group, equities research analysts predict that Euroseas will post 13.24 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 5.59%. Euroseas’s dividend payout ratio (DPR) is 15.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock worth $3,403,000 after buying an additional 2,877 shares during the last quarter. Acadian Asset Management LLC lifted its position in Euroseas by 2.2% during the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after acquiring an additional 1,602 shares during the period. Quadrature Capital Ltd lifted its position in Euroseas by 51.4% during the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after acquiring an additional 15,618 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Euroseas during the 1st quarter worth about $1,300,000. Finally, Janney Montgomery Scott LLC lifted its position in Euroseas by 18.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after acquiring an additional 2,693 shares during the period. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.