Euroseas Ltd. (NASDAQ:ESEA) Announces Quarterly Dividend of $0.60

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Monday, December 9th will be paid a dividend of 0.60 per share by the shipping company on Tuesday, December 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Monday, December 9th.

Euroseas has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Euroseas to earn $13.04 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 18.4%.

Euroseas Stock Performance

Shares of ESEA stock opened at $39.45 on Friday. Euroseas has a 12-month low of $26.20 and a 12-month high of $50.92. The business’s fifty day simple moving average is $43.67 and its 200-day simple moving average is $40.95. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The company has a market cap of $276.39 million, a PE ratio of 2.43 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Alliance Global Partners began coverage on shares of Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the 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.