Euroseas (NASDAQ:ESEA) Stock Price Down 3.8% - What's Next?

Key Points

• Euroseas shares fell 3.8% to about $74.62 in light trading, with volume down 96% from the average session. Analysts’ consensus rating remains “Hold,” despite one recent upgrade to “Buy.”
• The company reported strong quarterly results, posting $4.70 in EPS versus the $4.09 consensus estimate and revenue of $56.50 million. Analysts expect full-year EPS of approximately $18.03.
• Euroseas paid a quarterly dividend of $0.80 per share, equivalent to a 4.3% annualized yield. Insider ownership is high at 55.9%, while an insider recently sold 950 shares.

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) shares were down 3.8% on Tuesday . The stock traded as low as $74.57 and last traded at $74.6150. Approximately 2,425 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 60,348 shares. The stock had previously closed at $77.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ESEA shares. Weiss Ratings raised shares of Euroseas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 14th. Zacks Research lowered Euroseas from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised Euroseas from a "hold" rating to a "buy" rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold".

Euroseas Trading Down 1.5%

The firm's 50-day moving average is $75.14 and its 200-day moving average is $70.54. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.36. The firm has a market cap of $522.56 million, a price-to-earnings ratio of 3.81 and a beta of 0.41.

Euroseas (NASDAQ:ESEA - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.09 by $0.61. The firm had revenue of $56.50 million during the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a return on equity of 26.58% and a net margin of 59.98%. As a group, sell-side analysts anticipate that Euroseas Ltd. will post 18.03 EPS for the current fiscal year.

Euroseas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. Euroseas's dividend payout ratio (DPR) is currently 16.47%.

Insider Activity at Euroseas

In related news, insider Symeon Pariaros sold 950 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total value of $75,050.00. Following the transaction, the insider directly owned 1,900 shares of the company's stock, valued at approximately $150,100. The trade was a 33.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 55.90% of the stock is owned by insiders.

Institutional Trading of Euroseas

Hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC bought a new position in shares of Euroseas in the 1st quarter worth $1,591,000. Navellier & Associates Inc. lifted its holdings in shares of Euroseas by 94.8% during the 2nd 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. Public Employees Retirement System of Ohio purchased a new position in Euroseas in the second quarter worth $423,000. State of Wyoming bought a new position in Euroseas in the first quarter valued at $323,000. Finally, Renaissance Technologies LLC increased its stake in Euroseas by 4.2% in the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company's stock valued at $6,736,000 after acquiring an additional 4,087 shares during the last quarter. Institutional investors own 6.27% of the company's stock.

About Euroseas

Euroseas Ltd. NASDAQ: ESEA is a shipping company that owns and operates containerships. The company primarily focuses on feeder and intermediate-size vessels, which transport containerized cargo on regional and international trade routes and connect smaller ports with major shipping hubs.

Euroseas charters its vessels to liner companies and other customers under a combination of time-charter and voyage arrangements. Its fleet serves global container transportation markets, with operations managed from Greece and vessels registered under international shipping jurisdictions.

Founded in 2005, Euroseas is led by Aristides Pittas, who serves as chairman and chief executive officer.

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