Euroseas (NASDAQ:ESEA) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Euroseas Ltd. (NASDAQ:ESEA) stock has surpassed its 200-day moving average of $42.38, trading at $63.10 with a high of $63.20.
• The company recently declared a quarterly dividend of $0.70, up from $0.65, yielding 4.4% annually; the ex-dividend date is September 9.
• Research analysts have given Euroseas a consensus buy rating with an average target price of $62.00, reflecting strong positive sentiment on Wall Street.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.38 and traded as high as $63.20. Euroseas shares last traded at $63.10, with a volume of 32,160 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen raised Euroseas from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Maxim Group upped their price target on Euroseas from $57.00 to $62.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Euroseas presently has a consensus rating of "Buy" and an average target price of $62.00.

Euroseas Stock Performance

The firm's fifty day moving average price is $55.27 and its 200 day moving average price is $42.38. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $442.33 million, a PE ratio of 3.71 and a beta of 0.94.

Euroseas (NASDAQ:ESEA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The shipping company reported $4.20 EPS for the quarter, beating the consensus estimate of $3.87 by $0.33. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. The business had revenue of $57.23 million for the quarter, compared to analysts' expectations of $53.31 million. On average, research analysts anticipate that Euroseas Ltd. will post 15.15 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 9th will be given a $0.70 dividend. This is an increase from Euroseas's previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 9th. Euroseas's payout ratio is presently 16.45%.

Institutional Trading of Euroseas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in shares of Euroseas in the second quarter worth about $277,000. Bank of America Corp DE lifted its position in shares of Euroseas by 387.8% in the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company's stock worth $50,000 after buying an additional 888 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Euroseas in the second quarter worth about $259,000. Raymond James Financial Inc. bought a new stake in Euroseas during the second quarter valued at about $870,000. Finally, Jump Financial LLC acquired a new stake in shares of Euroseas in the second quarter valued at about $260,000. Institutional investors and hedge funds own 6.27% of the company's stock.

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.

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