Euroseas (NASDAQ:ESEA) Upgraded to “Buy” at StockNews.com

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

Several other brokerages have also recently issued reports on ESEA. Noble Financial raised shares of Euroseas to a strong-buy rating in a research note on Wednesday, July 10th. Alliance Global Partners began coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a buy rating and a $60.00 price objective on the stock.

Euroseas Stock Down 3.5 %

ESEA stock opened at $43.30 on Friday. The firm’s 50-day moving average is $44.70 and its two-hundred day moving average is $39.59. The company has a market capitalization of $303.36 million, a price-to-earnings ratio of 2.84 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. Euroseas has a 52 week low of $22.50 and a 52 week high of $50.92.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $2.43. The company had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. On average, analysts forecast that Euroseas will post 14.99 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Monday, September 9th. Euroseas’s dividend payout ratio (DPR) is currently 15.76%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ESEA. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Euroseas in the first quarter worth approximately $1,300,000. Acadian Asset Management LLC grew its position in Euroseas by 49.6% during the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after purchasing an additional 23,796 shares in the last quarter. Inspire Investing LLC purchased a new position in Euroseas during the third quarter valued at approximately $913,000. Quadrature Capital Ltd grew its position in Euroseas by 51.4% during the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after purchasing an additional 15,618 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Euroseas during the fourth quarter valued at approximately $350,000. 6.27% of the stock is owned by hedge funds and other institutional investors.

Euroseas Company Profile

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.