Euroseas Ltd. Announces Quarterly Dividend of $0.70 (NASDAQ:ESEA)

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Tuesday, December 9th will be paid a dividend of 0.70 per share by the shipping company on Tuesday, December 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, December 9th.

Euroseas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 16.2%.

Euroseas Price Performance

ESEA stock opened at $57.38 on Wednesday. The firm has a 50 day moving average of $58.83 and a 200-day moving average of $51.97. The company has a market cap of $402.03 million, a price-to-earnings ratio of 3.37 and a beta of 0.94. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.51. Euroseas has a 12-month low of $26.30 and a 12-month high of $66.00.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Tuesday, November 18th. The shipping company reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.40 by ($0.15). The firm had revenue of $57.23 million during the quarter, compared to analysts’ expectations of $57.61 million. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. During the same period in the previous year, the business earned $3.92 earnings per share. As a group, equities analysts expect that Euroseas will post 15.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Euroseas

A number of hedge funds and other institutional investors have recently modified their holdings of ESEA. Commons Capital LLC acquired a new position in Euroseas in the 2nd quarter valued at $255,000. Boston Partners boosted its stake in Euroseas by 37.5% in the 1st quarter. Boston Partners now owns 17,045 shares of the shipping company’s stock worth $522,000 after buying an additional 4,647 shares during the last quarter. Quarry LP purchased a new stake in Euroseas in the 3rd quarter valued at about $89,000. Qube Research & Technologies Ltd purchased a new position in shares of Euroseas during the 3rd quarter worth about $253,000. Finally, Bank of America Corp DE boosted its position in shares of Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after acquiring an additional 888 shares during the last quarter. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

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.