Euroseas (NASDAQ:ESEA) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Euroseas Ltd. (NASDAQ:ESEA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $63.85 and traded as high as $71.11. Euroseas shares last traded at $68.98, with a volume of 66,384 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on ESEA shares. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Weiss Ratings cut shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research raised Euroseas from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One investment 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 company has an average rating of “Buy”.

Euroseas Trading Up 1.8%

The company’s fifty day moving average price is $68.44 and its two-hundred day moving average price is $63.89. 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 firm has a market cap of $495.33 million, a P/E ratio of 3.70 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $0.44. The firm had revenue of $55.84 million during the quarter, compared to the consensus estimate of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. As a group, sell-side analysts predict that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This is a positive change from Euroseas’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 4.6%. Euroseas’s dividend payout ratio (DPR) is 16.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ESEA. Russell Investments Group Ltd. bought a new stake in Euroseas during the 4th quarter worth approximately $34,000. Bank of America Corp DE increased its holdings in 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 purchasing an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $76,000 after purchasing an additional 1,080 shares during the last quarter. Quarry LP bought a new position in Euroseas in the 3rd quarter valued at $89,000. Finally, Magnetar Financial LLC acquired a new position in Euroseas in the fourth quarter worth $204,000. 6.27% of the stock is owned by institutional investors and hedge funds.

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.