Euroseas Ltd. (NASDAQ:ESEA) Announces Quarterly Dividend of $0.80

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, August 13th. Shareholders of record on Wednesday, September 9th will be given a dividend of 0.80 per share by the shipping company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, September 9th.

Euroseas has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings.

Euroseas Trading Down 1.2%

ESEA stock traded down $0.89 during mid-day trading on Thursday, hitting $73.59. 68,503 shares of the company were exchanged, compared to its average volume of 63,795. Euroseas has a 12-month low of $51.00 and a 12-month high of $79.67. The firm has a market capitalization of $519.55 million, a P/E ratio of 3.88 and a beta of 0.45. The business has a fifty day simple moving average of $71.05 and a 200-day simple moving average of $67.21. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.39.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.61. The business had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. On average, equities research analysts predict that Euroseas will post 18.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Euroseas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Euroseas during the fourth quarter worth about $34,000. Bank of America Corp DE raised its holdings in Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Euroseas by 540.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after acquiring an additional 1,080 shares during the last quarter. Quarry LP acquired a new position in Euroseas during the 3rd quarter worth approximately $89,000. Finally, Magnetar Financial LLC acquired a new position in Euroseas during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

About Euroseas

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.