Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) announced a quarterly dividend on Thursday, August 14th, Wall Street Journal reports. Stockholders of record on Tuesday, September 9th will be given a dividend of 0.70 per share by the shipping company on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a 7.7% increase from Euroseas's previous quarterly dividend of $0.65.
Euroseas has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 15.1%.
Euroseas Stock Performance
Shares of Euroseas stock traded down $0.43 during trading on Thursday, hitting $56.03. 33,994 shares of the stock were exchanged, compared to its average volume of 35,837. Euroseas has a 1-year low of $26.30 and a 1-year high of $56.95. The company has a fifty day moving average price of $47.97 and a 200-day moving average price of $38.17. The company has a current ratio of 1.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $392.77 million, a price-to-earnings ratio of 3.02 and a beta of 0.83.
Euroseas (NASDAQ:ESEA - Get Free Report) last announced its earnings results on Wednesday, August 13th. The shipping company reported $4.20 EPS for the quarter, topping the consensus estimate of $3.87 by $0.33. Euroseas had a return on equity of 31.70% and a net margin of 58.28%. The firm had revenue of $57.23 million for the quarter, compared to the consensus estimate of $53.31 million. As a group, equities analysts predict that Euroseas will post 15.15 EPS for the current fiscal year.
Institutional Trading of Euroseas
A number of large investors have recently bought and sold shares of ESEA. Millennium Management LLC increased its position in shares of Euroseas by 661.4% during the fourth quarter. Millennium Management LLC now owns 40,931 shares of the shipping company's stock valued at $1,482,000 after buying an additional 35,555 shares during the period. Novem Group bought a new position in shares of Euroseas during the fourth quarter valued at about $847,000. Marshall Wace LLP increased its stake in shares of Euroseas by 71.5% during the fourth quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company's stock valued at $1,473,000 after buying an additional 16,969 shares during the period. Renaissance Technologies LLC raised its holdings in Euroseas by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company's stock worth $4,166,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Mariner LLC purchased a new stake in shares of Euroseas in the fourth quarter worth $306,000. 6.27% of the stock is owned by hedge funds and other institutional investors.
Euroseas Company Profile
(
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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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.
Further Reading
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