Euroseas (NASDAQ:ESEA) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Euroseas (NASDAQ:ESEA – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other analysts have also issued reports on ESEA. Noble Financial upgraded Euroseas to a strong-buy rating in a report on Wednesday, July 10th. Alliance Global Partners started coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a buy rating and a $60.00 price objective for the company.

Get Our Latest Stock Analysis on ESEA

Euroseas Stock Down 0.4 %

Shares of NASDAQ ESEA opened at $43.13 on Friday. The stock has a fifty day moving average price of $44.84 and a 200 day moving average price of $39.68. The company has a market cap of $302.17 million, a P/E ratio of 2.83 and a beta of 0.85. Euroseas has a 12-month low of $22.50 and a 12-month high of $50.92. 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 (NASDAQ:ESEA – Get Free Report) last posted its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The company had revenue of $60.29 million for the quarter, compared to analysts’ expectations of $49.33 million. Research analysts anticipate that Euroseas will post 14.99 EPS for the current fiscal year.

Euroseas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were paid a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.56%. Euroseas’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Investors Weigh In On Euroseas

Large investors have recently made changes to their positions in the stock. Beacon Capital Management LLC acquired a new position in Euroseas during the first quarter worth $36,000. Tucker Asset Management LLC bought a new position in Euroseas in the 4th quarter valued at approximately $86,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Euroseas during the 2nd quarter valued at $248,000. Lazard Asset Management LLC grew its position in Euroseas by 3,282.3% during the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after acquiring an additional 7,976 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Euroseas during the fourth quarter worth about $350,000. Institutional investors own 6.27% of the company’s stock.

About Euroseas

(Get Free Report)

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.

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