Analysts Set Expectations for Euroseas Ltd.’s FY2024 Earnings (NASDAQ:ESEA)

Euroseas Ltd. (NASDAQ:ESEA) – Investment analysts at Noble Financial cut their FY2024 earnings per share (EPS) estimates for shares of Euroseas in a report issued on Wednesday, June 12th. Noble Financial analyst M. Heim now expects that the shipping company will post earnings of $9.05 per share for the year, down from their prior estimate of $9.70. Noble Financial currently has a “Outperform” rating and a $53.00 target price on the stock. The consensus estimate for Euroseas’ current full-year earnings is $9.05 per share.

Euroseas Price Performance

Shares of ESEA opened at $35.41 on Thursday. The company has a market cap of $248.22 million, a P/E ratio of 2.33 and a beta of 0.80. The stock has a fifty day moving average price of $36.35 and a 200 day moving average price of $35.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.96 and a quick ratio of 0.91. Euroseas has a 12 month low of $19.71 and a 12 month high of $42.29.

Euroseas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 12th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 6.78%. Euroseas’s payout ratio is currently 15.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Euroseas by 49.6% in the first quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after purchasing an additional 23,796 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Euroseas by 51.4% in the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after buying an additional 15,618 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Euroseas in the first quarter valued at $1,300,000. Janney Montgomery Scott LLC lifted its holdings in shares of Euroseas by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after buying an additional 2,693 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Euroseas in the fourth quarter valued at $350,000. 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.