Euroseas (NASDAQ:ESEA) Director Sells 1,400 Shares of Company Stock

Key Points

• Director sale: Panagiotis Kyriakopoulos sold 1,400 Euroseas shares at an average price of $66.60, generating $93,240. Following the transaction, his holdings fell 9.66% to 13,100 shares.
• Financial performance: Euroseas reported quarterly EPS of $4.70, beating estimates of $4.09, while revenue reached $56.50 million. The company also pays a quarterly dividend of $0.80 per share, representing a 4.8% annualized yield.
• Market outlook: Shares recently traded at $67.25, while analysts’ consensus rating is “Moderate Buy” with an average price target of $93.00, despite ratings ranging from “Buy” to “Strong Sell.”

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) Director Panagiotis Kyriakopoulos sold 1,400 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $66.60, for a total value of $93,240.00. Following the transaction, the director owned 13,100 shares of the company's stock, valued at approximately $872,460. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Euroseas Stock Up 1.6%

NASDAQ:ESEA traded up $1.08 on Tuesday, hitting $67.25. 2,127 shares of the company's stock were exchanged, compared to its average volume of 56,885. The firm has a 50-day moving average price of $72.76 and a 200-day moving average price of $68.02. Euroseas Ltd. has a 52 week low of $51.00 and a 52 week high of $79.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.46 and a quick ratio of 5.38. The company has a market cap of $474.78 million, a P/E ratio of 3.46 and a beta of 0.62.

Euroseas (NASDAQ:ESEA - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.61. The firm had revenue of $56.50 million for the quarter, compared to analyst estimates of $55.98 million. Euroseas had a return on equity of 26.58% and a net margin of 59.98%. As a group, analysts expect that Euroseas Ltd. will post 15.87 EPS for the current fiscal year.

Euroseas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, September 9th. Euroseas's dividend payout ratio is 16.47%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Freedom Broker initiated coverage on shares of Euroseas in a research report on Tuesday, September 29th. They issued a "buy" rating and a $93.00 price objective for the company. Zacks Research downgraded shares of Euroseas from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 21st. Finally, Weiss Ratings upgraded Euroseas from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, October 16th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Institutional Investors Weigh In On Euroseas

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Redhawk Wealth Advisors Inc. increased its stake in shares of Euroseas by 36.2% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company's stock valued at $275,000 after purchasing an additional 1,102 shares during the last quarter. State of Wyoming acquired a new stake in Euroseas in the first quarter valued at about $323,000. Public Employees Retirement System of Ohio bought a new position in Euroseas in the second quarter valued at about $423,000. WINTON GROUP Ltd grew its position in Euroseas by 33.1% in the second quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company's stock valued at $533,000 after acquiring an additional 1,998 shares during the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Euroseas by 94.8% in the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company's stock worth $1,033,000 after acquiring an additional 7,575 shares during the last quarter. 6.27% of the stock is currently owned by institutional investors.

About Euroseas

Euroseas Ltd. NASDAQ: ESEA is a shipping company that owns and operates containerships serving the international container transportation market. Its fleet is focused primarily on feeder and intermediate-size vessels, which transport containers between regional ports and connect smaller markets with major global shipping hubs.

The company generates revenue through time charters, voyage charters and other commercial arrangements for its vessels. Euroseas' services support the movement of manufactured goods, consumer products, raw materials and other containerized cargo across international trade routes.

Euroseas is headquartered in Athens, Greece, and serves customers and markets worldwide through its internationally deployed fleet.

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