Euroseas (NASDAQ:ESEA) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Euroseas Ltd. (NASDAQ:ESEA) stock price has recently crossed above its 200-day moving average, reaching a high of $66.00, with the last traded price at $62.34.
• Wall Street analysts have upgraded Euroseas to a "buy" rating, with an increased price target of $62.00 and an average rating of "buy."
• Euroseas announced a quarterly dividend increase to $0.70 per share, providing an annual yield of 4.5%, reflecting the company's strong performance with a net margin of 53.75% and a PE ratio of 3.66.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.09 and traded as high as $66.00. Euroseas shares last traded at $62.34, with a volume of 100,969 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on ESEA shares. Wall Street Zen upgraded shares of Euroseas from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Maxim Group boosted their price target on shares of Euroseas from $57.00 to $62.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Euroseas currently has an average rating of "Buy" and an average price target of $62.00.

Euroseas Stock Performance

The company has a market cap of $437.00 million, a PE ratio of 3.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.15 and a current ratio of 3.21. The stock's 50-day simple moving average is $57.69 and its 200 day simple moving average is $44.09.

Euroseas (NASDAQ:ESEA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The shipping company reported $4.20 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $0.33. The company had revenue of $57.23 million during the quarter, compared to the consensus estimate of $53.31 million. Euroseas had a net margin of 53.75% and a return on equity of 28.56%. As a group, equities analysts anticipate that Euroseas Ltd. will post 15.15 EPS for the current year.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 9th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, September 9th. This is an increase from Euroseas's previous quarterly dividend of $0.65. Euroseas's payout ratio is currently 16.45%.

Hedge Funds Weigh In On Euroseas

Large investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in Euroseas during the 2nd quarter worth $45,000. Bank of America Corp DE grew its stake 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 worth $50,000 after purchasing an additional 888 shares during the period. Geode Capital Management LLC purchased a new position in shares of Euroseas in the 2nd quarter valued at about $226,000. Commons Capital LLC purchased a new position in shares of Euroseas in the 2nd quarter valued at about $255,000. Finally, Jane Street Group LLC purchased a new position in shares of Euroseas in the 2nd quarter valued at about $259,000. Hedge funds and other institutional investors 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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