Euroseas Ltd. (NASDAQ:ESEA – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $62.79 and traded as high as $70.40. Euroseas shares last traded at $68.56, with a volume of 69,458 shares traded.
Wall Street Analysts Forecast Growth
ESEA has been the subject of a number of research analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.
Check Out Our Latest Analysis on Euroseas
Euroseas Stock Performance
Euroseas (NASDAQ:ESEA – Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $0.44. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. The company had revenue of $55.84 million for the quarter, compared to analyst estimates of $56.61 million. On average, research analysts forecast that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.
Euroseas Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.7%. This is a boost from Euroseas’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, June 9th. Euroseas’s dividend payout ratio (DPR) is 16.86%.
Institutional Trading of Euroseas
A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares during the period. Geode Capital Management LLC bought a new stake in Euroseas in the 2nd quarter valued at $226,000. Jump Financial LLC acquired a new position in shares of Euroseas in the 2nd quarter valued at $260,000. Raymond James Financial Inc. bought a new position in shares of Euroseas during the 2nd quarter worth about $870,000. Finally, Jane Street Group LLC acquired a new stake in shares of Euroseas during the 2nd quarter valued at about $259,000. Institutional investors own 6.27% of the company’s stock.
About Euroseas
Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.
Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.
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