StockNews.com Begins Coverage on Euroseas (NASDAQ:ESEA)

StockNews.com initiated coverage on shares of Euroseas (NASDAQ:ESEA) in a research note published on Saturday. The brokerage issued a buy rating on the shipping company’s stock.

Euroseas Price Performance

Euroseas stock opened at $30.76 on Friday. Euroseas has a 1 year low of $28.36 and a 1 year high of $50.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. The stock has a market cap of $215.50 million, a price-to-earnings ratio of 1.90 and a beta of 0.72. The firm has a 50-day moving average of $32.90 and a two-hundred day moving average of $38.05.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.65 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $2.60 annualized dividend and a dividend yield of 8.45%. This is a positive change from Euroseas’s previous quarterly dividend of $0.60. Euroseas’s payout ratio is currently 16.10%.

Institutional Investors Weigh In On Euroseas

Several large investors have recently modified their holdings of ESEA. Arrowstreet Capital Limited Partnership raised its holdings in shares of Euroseas by 389.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock valued at $1,949,000 after purchasing an additional 42,830 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Euroseas by 661.4% in the 4th quarter. Millennium Management LLC now owns 40,931 shares of the shipping company’s stock valued at $1,482,000 after purchasing an additional 35,555 shares in the last quarter. Novem Group bought a new stake in shares of Euroseas in the 4th quarter valued at about $847,000. Marshall Wace LLP raised its stake in shares of Euroseas by 71.5% during the 4th quarter. Marshall Wace LLP now owns 40,703 shares of the shipping company’s stock worth $1,473,000 after acquiring an additional 16,969 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock worth $4,166,000 after acquiring an additional 16,700 shares in the last quarter. Institutional investors own 6.27% of the company’s stock.

About Euroseas

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.