Euroseas (NASDAQ:ESEA) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Euroseas (NASDAQ:ESEAFree Report) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other research firms also recently issued reports on ESEA. Alliance Global Partners started coverage on Euroseas in a research report on Monday, September 9th. They set a buy rating and a $60.00 target price on the stock. Noble Financial upgraded Euroseas to a strong-buy rating in a research note on Wednesday, July 10th.

Get Our Latest Stock Report on ESEA

Euroseas Trading Down 0.7 %

NASDAQ:ESEA opened at $44.25 on Friday. Euroseas has a 12 month low of $22.50 and a 12 month high of $50.92. The company has a current ratio of 1.46, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $44.13 and its 200 day moving average is $39.37. The stock has a market capitalization of $310.02 million, a PE ratio of 2.91 and a beta of 0.85.

Euroseas (NASDAQ:ESEAGet Free Report) last issued its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $2.43. The firm had revenue of $60.29 million for the quarter, compared to analyst estimates of $49.33 million. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. Sell-side analysts expect that Euroseas will post 13.24 earnings per share for the current year.

Euroseas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 5.42%. Euroseas’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESEA. Beacon Capital Management LLC bought a new stake in shares of Euroseas in the first quarter worth about $36,000. Tucker Asset Management LLC purchased a new stake in Euroseas in the fourth quarter worth about $86,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Euroseas in the 2nd quarter worth approximately $248,000. Lazard Asset Management LLC lifted its stake in shares of Euroseas by 3,282.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Euroseas during the fourth quarter valued at approximately $350,000. 6.27% of the stock is owned by institutional investors.

About Euroseas

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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.

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