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

Euroseas logo with Transportation background

Key Points

  • Euroseas Ltd. (NASDAQ:ESEA) saw its stock price rise above its 200-day moving average during Tuesday's trading, with shares last trading at $63.43.
  • Analysts have recently upgraded Euroseas from a "hold" to a "buy" rating, with a consensus target price of $61.00, based on strong quarterly earnings that exceeded estimates.
  • The company announced an increase in its quarterly dividend from $0.65 to $0.70 per share, representing an annualized yield of 4.4%.
  • Looking to export and analyze Euroseas data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.08 and traded as high as $64.45. Euroseas shares last traded at $63.43, with a volume of 50,654 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESEA. Maxim Group raised their target price on Euroseas from $57.00 to $62.00 and gave the stock a "buy" rating in a research report 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. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $61.00.

Get Our Latest Analysis on ESEA

Euroseas Trading Up 0.3%

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 has a market capitalization of $436.33 million, a PE ratio of 3.66 and a beta of 0.83. The stock has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $40.67.

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

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 9th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.80 dividend on an annualized basis and a yield of 4.5%. This is a boost from Euroseas's previous quarterly dividend of $0.65. Euroseas's payout ratio is presently 16.45%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ESEA. Allworth Financial LP purchased a new position in Euroseas in the 2nd quarter worth approximately $45,000. Bank of America Corp DE lifted its holdings in Euroseas by 387.8% in 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 in the last quarter. Geode Capital Management LLC purchased a new position in Euroseas in the 2nd quarter worth approximately $226,000. Commons Capital LLC purchased a new position in Euroseas in the 2nd quarter worth approximately $255,000. Finally, Jane Street Group LLC purchased a new position in Euroseas in the 2nd quarter worth approximately $259,000. 6.27% of the stock is owned by hedge funds and other institutional investors.

About Euroseas

(Get Free Report)

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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