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

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

Euroseas Trading Up 0.2 %

Shares of ESEA opened at $32.58 on Friday. The business has a 50-day moving average of $33.37 and a 200 day moving average of $38.65. Euroseas has a fifty-two week low of $30.21 and a fifty-two week high of $50.92. The firm has a market cap of $228.26 million, a P/E ratio of 2.01 and a beta of 0.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 1.65.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 7.98%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Euroseas’s previous quarterly dividend of $0.60. Euroseas’s payout ratio is presently 16.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESEA. Sheaff Brock Investment Advisors LLC grew its holdings in Euroseas by 25.0% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock valued at $382,000 after buying an additional 1,560 shares in the last quarter. Barclays PLC grew its holdings in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after buying an additional 251 shares in the last quarter. Geode Capital Management LLC purchased a new position in Euroseas during the 3rd quarter valued at about $248,000. Retireful LLC purchased a new position in Euroseas during the 4th quarter valued at about $222,000. Finally, Exchange Traded Concepts LLC purchased a new position in Euroseas during the 4th quarter valued at about $306,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

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.