Euroseas Ltd. (NASDAQ:ESEA) Plans Dividend Increase – $0.50 Per Share

Euroseas Ltd. (NASDAQ:ESEA – Get Rating) declared a quarterly dividend on Monday, May 23rd, Zacks reports. Investors of record on Thursday, June 9th will be given a dividend of 0.50 per share by the shipping company on Thursday, June 16th. This represents a $2.00 annualized dividend and a yield of 6.81%. The ex-dividend date is Wednesday, June 8th. This is a positive change from Euroseas’s previous quarterly dividend of $0.12.

ESEA stock traded down $0.82 during midday trading on Wednesday, hitting $29.38. The stock had a trading volume of 305 shares, compared to its average volume of 110,879. The firm has a market cap of $214.30 million, a P/E ratio of 5.08 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Euroseas has a 1-year low of $13.72 and a 1-year high of $39.17. The business has a fifty day moving average price of $26.40 and a two-hundred day moving average price of $27.10.

Euroseas (NASDAQ:ESEA – Get Rating) last released its earnings results on Monday, May 23rd. The shipping company reported $4.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.53. Euroseas had a net margin of 45.67% and a return on equity of 81.90%. During the same period last year, the business earned $0.45 EPS. On average, equities analysts anticipate that Euroseas will post 14.47 EPS for the current year.

Several equities research analysts have weighed in on ESEA shares. TheStreet downgraded shares of Euroseas from a “b-” rating to a “c+” rating in a research note on Thursday, April 7th. Zacks Investment Research downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Univest Sec started coverage on shares of Euroseas in a research note on Thursday, May 19th. They issued a “buy” rating for the company. Finally, StockNews.com started coverage on shares of Euroseas in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Euroseas currently has an average rating of “Buy” and an average target price of $36.33.

Several hedge funds have recently added to or reduced their stakes in ESEA. Morgan Stanley boosted its position in Euroseas by 12,595.1% during the 2nd quarter. Morgan Stanley now owns 23,232 shares of the shipping company’s stock valued at $536,000 after buying an additional 23,049 shares during the period. Millennium Management LLC purchased a new stake in Euroseas during the 2nd quarter valued at $294,000. Wells Fargo & Company MN boosted its position in Euroseas by 2,272.7% during the 2nd quarter. Wells Fargo & Company MN now owns 3,132 shares of the shipping company’s stock valued at $72,000 after buying an additional 3,000 shares during the period. LPL Financial LLC purchased a new stake in Euroseas during the 3rd quarter valued at $857,000. Finally, Jane Street Group LLC purchased a new stake in Euroseas during the 3rd quarter valued at $282,000. 7.33% of the stock is currently owned by institutional investors.

About Euroseas (Get Rating)

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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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