Euroseas (NASDAQ:ESEA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Euroseas Ltd. (NASDAQ:ESEA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.30 and traded as high as $67.39. Euroseas shares last traded at $66.91, with a volume of 86,130 shares traded.

Analyst Upgrades and Downgrades

ESEA has been the subject of a number of research analyst reports. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Euroseas in a report on Monday, April 20th. Finally, Weiss Ratings cut Euroseas from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Euroseas currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Euroseas Stock Performance

The firm has a fifty day simple moving average of $68.66 and a 200-day simple moving average of $62.41. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.39. The stock has a market cap of $466.38 million, a price-to-earnings ratio of 3.48 and a beta of 0.49.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data 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 return on equity of 27.55% and a net margin of 58.31%.The firm had revenue of $55.84 million for the quarter, compared to the consensus estimate of $56.61 million. Analysts forecast that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, June 9th. This is a positive change from Euroseas’s previous quarterly dividend of $0.75. Euroseas’s dividend payout ratio is presently 16.86%.

Institutional Trading of Euroseas

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in shares of Euroseas during the 4th quarter valued at $34,000. Bank of America Corp DE raised its position in shares of Euroseas by 387.8% during the 2nd quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 888 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Euroseas by 540.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 1,080 shares during the last quarter. Quarry LP bought a new stake in shares of Euroseas during the 3rd quarter valued at $89,000. Finally, Magnetar Financial LLC bought a new stake in shares of Euroseas during the 4th quarter valued at $204,000. 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.