Euroseas (NASDAQ:ESEA) Sets New 1-Year High – Here’s What Happened

Euroseas Ltd. (NASDAQ:ESEA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $79.48 and last traded at $79.25, with a volume of 22266 shares changing hands. The stock had previously closed at $75.99.

Wall Street Analyst Weigh In

ESEA has been the subject of a number of research reports. Zacks Research raised Euroseas from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Alliance Global Partners reissued a “buy” rating on shares of Euroseas in a report on Monday, April 20th. Weiss Ratings cut Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Euroseas has an average rating of “Buy”.

Euroseas Trading Up 4.5%

The stock has a market cap of $560.49 million, a PE ratio of 4.18 and a beta of 0.45. The company’s fifty day moving average is $69.02 and its 200-day moving average is $65.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 5.46 and a quick ratio of 5.38.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.26 by $0.44. The company had revenue of $55.84 million for the quarter, compared to analyst estimates of $56.61 million. Euroseas had a net margin of 58.31% and a return on equity of 27.55%. On average, analysts predict that Euroseas Ltd. will post 18.1 earnings per share for the current fiscal year.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.0%. This is a positive change from Euroseas’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, June 9th. Euroseas’s dividend payout ratio is 16.86%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Euroseas during the 4th quarter worth approximately $34,000. Bank of America Corp DE boosted its holdings in Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after buying an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock valued at $76,000 after buying an additional 1,080 shares during the period. Quarry LP acquired a new stake in Euroseas during the third quarter valued at $89,000. Finally, Magnetar Financial LLC purchased a new position in Euroseas in the fourth quarter valued at $204,000. 6.27% of the stock is owned by institutional investors and hedge funds.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.