Euroseas (NASDAQ:ESEA) Reaches New 12-Month High – What’s Next?

Euroseas Ltd. (NASDAQ:ESEAGet Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $78.85 and last traded at $77.30, with a volume of 12631 shares traded. The stock had previously closed at $75.67.

Analyst Ratings Changes

A number of equities research analysts recently commented on ESEA shares. Weiss Ratings lowered Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Zacks Research upgraded Euroseas from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Alliance Global Partners restated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy”.

Read Our Latest Stock Report on Euroseas

Euroseas Stock Up 0.7%

The firm’s 50-day simple moving average is $68.47 and its 200 day simple moving average is $65.05. The company has a market cap of $538.11 million, a P/E ratio of 4.03 and a beta of 0.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46.

Euroseas (NASDAQ:ESEAGet Free Report) last released its earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.26 by $0.44. The firm had revenue of $55.84 million for the quarter, compared to analyst estimates of $56.61 million. Euroseas had a return on equity of 27.55% and a net margin of 58.31%. On average, research analysts forecast that Euroseas Ltd. will post 18.1 earnings per share for the current fiscal year.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.80 per share. This is a positive change from Euroseas’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 9th. Euroseas’s payout ratio is 16.86%.

Institutional Trading of Euroseas

A number of large investors have recently bought and sold shares of ESEA. Millennium Management LLC raised its holdings in Euroseas by 171.7% during the 4th quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after buying an additional 33,738 shares during the period. Inspire Investing LLC acquired a new position in shares of Euroseas during the first quarter worth about $1,591,000. Raymond James Financial Inc. bought a new position in shares of Euroseas during the 2nd quarter worth approximately $870,000. Mackenzie Financial Corp acquired a new stake in shares of Euroseas in the third quarter valued at approximately $1,136,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Euroseas in the third quarter valued at approximately $989,000. 6.27% of the stock is owned by institutional investors.

About Euroseas

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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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