Euroseas (NASDAQ:ESEA) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Euroseas Ltd. shares have crossed above their 200-day moving average, reaching as high as $52.17 before closing at $51.37.
• Analysts have expressed optimism, with Maxim Group raising their target price from $57.00 to $62.00 and upgrading the stock to a "buy" rating.
• Euroseas announced a quarterly dividend of $0.65, reflecting a 5.0% yield, which shows strong earnings performance with an EPS of $3.76 for the last quarter.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.29 and traded as high as $52.17. Euroseas shares last traded at $51.37, with a volume of 23,427 shares traded.

Analyst Upgrades and Downgrades

ESEA has been the subject of several recent analyst reports. Maxim Group lifted their target price on shares of Euroseas from $57.00 to $62.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wall Street Zen raised Euroseas from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Euroseas Trading Down 0.9%

The company has a quick ratio of 1.68, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The business's fifty day moving average is $46.91 and its 200-day moving average is $37.63. The stock has a market capitalization of $356.11 million, a PE ratio of 2.74 and a beta of 0.83.

Euroseas (NASDAQ:ESEA - Get Free Report) last announced its quarterly earnings data on Wednesday, June 18th. The shipping company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.41. The company had revenue of $54.74 million during the quarter, compared to analysts' expectations of $53.92 million. Euroseas had a net margin of 58.28% and a return on equity of 31.70%. During the same period in the previous year, the company earned $2.66 EPS. As a group, analysts anticipate that Euroseas Ltd. will post 15.15 EPS for the current fiscal year.

Euroseas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 9th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Wednesday, July 9th. Euroseas's dividend payout ratio (DPR) is 14.00%.

Hedge Funds Weigh In On Euroseas

Several hedge funds and other institutional investors have recently modified their holdings of ESEA. Cubist Systematic Strategies LLC boosted its position in Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company's stock worth $391,000 after purchasing an additional 471 shares during the period. Allworth Financial LP acquired a new position in shares of Euroseas during the second quarter worth about $45,000. 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 in the last quarter. Boston Partners boosted its stake in shares of Euroseas by 37.5% in the first quarter. Boston Partners now owns 17,045 shares of the shipping company's stock valued at $522,000 after purchasing an additional 4,647 shares during the period. Finally, Geode Capital Management LLC purchased a new position in Euroseas in the 2nd quarter valued at about $226,000. 6.27% of the stock is owned by institutional investors and hedge funds.

Euroseas Company Profile

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.