Euroseas (NASDAQ:ESEA) Stock Crosses Above 200-Day Moving Average – What’s Next?

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $58.56 and traded as high as $65.74. Euroseas shares last traded at $65.63, with a volume of 80,335 shares changing hands.

Wall Street Analysts Forecast Growth

ESEA has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Euroseas Stock Performance

The business has a 50 day simple moving average of $58.21 and a 200 day simple moving average of $58.63. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $474.65 million, a PE ratio of 3.45 and a beta of 0.80.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Wednesday, February 25th. The shipping company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.01. Euroseas had a return on equity of 27.82% and a net margin of 60.11%.The business had revenue of $57.39 million for the quarter, compared to analyst estimates of $57.83 million. Equities research analysts predict that Euroseas Ltd. will post 15.15 EPS for the current fiscal year.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th will be paid a $0.75 dividend. This is a boost from Euroseas’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, March 10th. This represents a $3.00 dividend on an annualized basis and a yield of 4.4%. Euroseas’s dividend payout ratio (DPR) is 15.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in shares of Euroseas during the second quarter worth $45,000. Magnetar Financial LLC acquired a new position in shares of Euroseas in the 4th quarter valued at $204,000. Quarry LP purchased a new position in Euroseas in the 3rd quarter worth $89,000. Northwestern Mutual Wealth Management Co. raised its stake in Euroseas by 540.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after acquiring an additional 1,756 shares during the period. Institutional investors and hedge funds 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.