Euroseas (NASDAQ:ESEA) Upgraded at StockNews.com

StockNews.com upgraded shares of Euroseas (NASDAQ:ESEA) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities research analysts also recently commented on the company. Noble Financial upgraded Euroseas to a strong-buy rating in a report on Wednesday, July 10th. Alliance Global Partners initiated coverage on Euroseas in a report on Monday, September 9th. They set a buy rating and a $60.00 price target on the stock.

Euroseas Stock Performance

NASDAQ ESEA opened at $43.13 on Friday. The stock has a market capitalization of $302.17 million, a PE ratio of 2.83 and a beta of 0.85. Euroseas has a 1 year low of $22.50 and a 1 year high of $50.92. The company’s 50 day simple moving average is $44.84 and its two-hundred day simple moving average is $39.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 6th. The shipping company reported $4.92 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 analysts’ expectations of $49.33 million. Analysts predict that Euroseas will post 14.99 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 5.56%. Euroseas’s payout ratio is 15.76%.

Hedge Funds Weigh In On Euroseas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after purchasing an additional 2,877 shares during the period. Acadian Asset Management LLC lifted its stake in Euroseas by 2.2% in the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after purchasing an additional 1,602 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after buying an additional 15,618 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Euroseas in the first quarter worth approximately $1,300,000. Finally, Inspire Investing LLC acquired a new position in Euroseas in the third quarter valued at about $913,000. 6.27% of the stock is owned by hedge funds and other institutional investors.

About Euroseas

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.