Noble Financial Boosts Euroseas (NASDAQ:ESEA) Price Target to $53.00

Euroseas (NASDAQ:ESEA) had its target price raised by Noble Financial from $49.00 to $53.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the shipping company’s stock. Noble Financial also issued estimates for Euroseas’ Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $9.05 EPS, Q1 2025 earnings at $2.43 EPS, Q2 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $6.32 EPS.

Euroseas Stock Performance

NASDAQ:ESEA opened at $35.41 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 0.96. The company has a fifty day moving average of $36.35 and a two-hundred day moving average of $35.43. The stock has a market capitalization of $248.22 million, a PE ratio of 2.33 and a beta of 0.80. Euroseas has a fifty-two week low of $19.71 and a fifty-two week high of $42.29.

Euroseas Dividend Announcement

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

Hedge Funds Weigh In On Euroseas

Large investors have recently added to or reduced their stakes in the stock. Beacon Capital Management LLC acquired a new position in Euroseas during the first quarter worth $36,000. Tucker Asset Management LLC acquired a new stake in shares of Euroseas in the fourth quarter valued at about $86,000. Lazard Asset Management LLC raised its position in shares of Euroseas by 3,282.3% in the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after buying an additional 7,976 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Euroseas in the fourth quarter valued at about $262,000. Finally, Virtu Financial LLC acquired a new stake in shares of Euroseas in the fourth quarter valued at about $350,000. 6.27% of the stock is currently owned by institutional investors and hedge funds.

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.