Euroseas (NASDAQ:ESEA) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Euroseas (NASDAQ:ESEA) in a report released on Saturday. The firm issued a buy rating on the shipping company’s stock.

Euroseas Stock Performance

NASDAQ:ESEA opened at $31.15 on Friday. The firm has a market capitalization of $218.24 million, a PE ratio of 1.92 and a beta of 0.72. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Euroseas has a 1 year low of $28.36 and a 1 year high of $50.92. The firm’s fifty day simple moving average is $32.84 and its 200 day simple moving average is $37.93.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 8.35%. The ex-dividend date was Tuesday, March 11th. This is a boost from Euroseas’s previous quarterly dividend of $0.60. Euroseas’s payout ratio is currently 16.10%.

Institutional Trading of Euroseas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESEA. Barclays PLC lifted its holdings in shares of Euroseas by 67.5% during the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the last quarter. Bank of America Corp DE raised its stake in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares during the last quarter. Retireful LLC acquired a new position in Euroseas during the 4th quarter valued at $222,000. Geode Capital Management LLC bought a new stake in Euroseas in the 3rd quarter valued at $248,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Euroseas in the 4th quarter worth $306,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

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.