Euroseas Ltd. (NASDAQ:ESEA) Announces Quarterly Dividend of $0.70

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Tuesday, December 9th will be paid a dividend of 0.70 per share by the shipping company on Tuesday, December 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, December 9th.

Euroseas has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 16.2%.

Euroseas Stock Down 6.8%

Shares of Euroseas stock opened at $57.38 on Wednesday. Euroseas has a twelve month low of $26.30 and a twelve month high of $66.00. The stock has a market cap of $402.03 million, a price-to-earnings ratio of 3.37 and a beta of 0.94. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $58.83 and a 200 day moving average price of $51.97.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings data on Tuesday, November 18th. The shipping company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.40 by ($0.15). The company had revenue of $57.23 million for the quarter, compared to analyst estimates of $57.61 million. Euroseas had a return on equity of 28.56% and a net margin of 53.75%.During the same quarter in the prior year, the firm earned $3.92 EPS. Equities research analysts forecast that Euroseas will post 15.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ESEA has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Euroseas in a research note on Wednesday, October 8th. Zacks Research cut Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Euroseas currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.