Euroseas Ltd. (NASDAQ:ESEA) to Issue Quarterly Dividend of $0.70

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Tuesday, November 18th. Stockholders of record on Tuesday, December 9th will be given a dividend of 0.70 per share by the shipping company on Tuesday, December 16th. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 9th.

Euroseas has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 16.2%.

Euroseas Trading Down 5.7%

Shares of ESEA opened at $58.06 on Wednesday. The firm’s 50-day moving average price is $58.83 and its 200-day moving average price is $51.97. The firm has a market capitalization of $406.85 million, a price-to-earnings ratio of 3.39 and a beta of 0.94. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.51. Euroseas has a 1-year low of $26.30 and a 1-year high of $66.00.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Tuesday, November 18th. The shipping company reported $4.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.40 by ($0.15). The company had revenue of $57.23 million during the quarter, compared to the consensus estimate of $57.61 million. Euroseas had a return on equity of 28.56% and a net margin of 53.75%.During the same period in the previous year, the company earned $3.92 earnings per share. Sell-side analysts anticipate that Euroseas will post 15.15 EPS for the current year.

Institutional Trading of Euroseas

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Euroseas during the second quarter valued at $870,000. Mackenzie Financial Corp bought a new position in Euroseas in the 3rd quarter worth about $1,136,000. Two Sigma Investments LP bought a new position in Euroseas in the 3rd quarter worth about $989,000. Citadel Advisors LLC grew its position in Euroseas by 144.9% during the 3rd quarter. Citadel Advisors LLC now owns 26,576 shares of the shipping company’s stock valued at $1,584,000 after purchasing an additional 15,724 shares during the last quarter. Finally, Credit Agricole S A bought a new stake in Euroseas during the 3rd quarter valued at about $848,000. 6.27% of the stock is owned by institutional investors.

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.