Euroseas (NASDAQ:ESEA) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Euroseas (NASDAQ:ESEA) from a buy rating to a hold rating in a report issued on Friday morning.

Other equities research analysts also recently issued reports about the company. Alliance Global Partners started coverage on Euroseas in a report on Monday, September 9th. They issued a buy rating and a $60.00 price target for the company. Noble Financial raised Euroseas to a strong-buy rating in a research report on Wednesday, July 10th.

Euroseas Price Performance

NASDAQ:ESEA opened at $44.25 on Friday. Euroseas has a 12 month low of $22.50 and a 12 month high of $50.92. The company’s 50-day moving average price is $44.13 and its two-hundred day moving average price is $39.37. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm has a market cap of $310.02 million, a PE ratio of 2.91 and a beta of 0.85.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The company had revenue of $60.29 million during the quarter, compared to the consensus estimate of $49.33 million. On average, equities analysts anticipate that Euroseas will post 13.24 EPS for the current fiscal year.

Euroseas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.42%. Euroseas’s payout ratio is presently 15.76%.

Institutional Investors Weigh In On Euroseas

Several hedge funds have recently added to or reduced their stakes in the business. CHURCHILL MANAGEMENT Corp bought a new position in shares of Euroseas during the first quarter worth about $1,300,000. Acadian Asset Management LLC boosted its stake in shares of Euroseas by 49.6% in the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock valued at $2,570,000 after purchasing an additional 23,796 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Euroseas by 51.4% during the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after buying an additional 15,618 shares during the period. Virtu Financial LLC bought a new position in shares of Euroseas in the 4th quarter worth about $350,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Euroseas by 3,282.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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.