Euroseas Ltd. (NASDAQ:ESEA) Plans Dividend Increase – $0.50 Per Share

Euroseas Ltd. (NASDAQ:ESEAGet Rating) declared a quarterly dividend on Monday, May 23rd, Zacks reports. Shareholders of record on Thursday, June 9th will be paid a dividend of 0.50 per share by the shipping company on Thursday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date is Wednesday, June 8th. This is an increase from Euroseas’s previous quarterly dividend of $0.12.

Shares of ESEA traded down $0.79 during trading on Wednesday, reaching $29.41. The company’s stock had a trading volume of 205 shares, compared to its average volume of 110,879. The company has a fifty day moving average of $26.40 and a two-hundred day moving average of $27.10. Euroseas has a twelve month low of $13.72 and a twelve month high of $39.17. The company has a market cap of $214.52 million, a price-to-earnings ratio of 5.08 and a beta of 0.53. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 1.16.

Euroseas (NASDAQ:ESEAGet Rating) last announced its earnings results on Monday, May 23rd. The shipping company reported $4.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.53. Euroseas had a return on equity of 81.90% and a net margin of 45.67%. During the same period last year, the business posted $0.45 EPS. As a group, equities analysts forecast that Euroseas will post 14.47 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Capital LLC bought a new position in Euroseas during the 1st quarter worth $766,000. Walleye Trading LLC bought a new position in Euroseas during the 1st quarter worth $221,000. Goldman Sachs Group Inc. bought a new position in Euroseas during the 1st quarter worth $308,000. UBS Group AG grew its stake in Euroseas by 375.3% during the 1st quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock worth $238,000 after buying an additional 6,500 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Euroseas during the 1st quarter worth $274,000. Hedge funds and other institutional investors own 7.33% of the company’s stock.

A number of brokerages have recently weighed in on ESEA. StockNews.com began coverage on Euroseas in a report on Thursday, March 31st. They issued a “hold” rating for the company. Univest Sec began coverage on Euroseas in a report on Thursday, May 19th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Euroseas from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, TheStreet downgraded Euroseas from a “b-” rating to a “c+” rating in a report on Thursday, April 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $36.33.

Euroseas Company Profile (Get Rating)

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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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