United Maritime (NASDAQ:USEA) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

United Maritime (NASDAQ:USEA) announced its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.14, Zacks reports. The business had revenue of $7.95 million for the quarter, compared to analysts’ expectations of $8.10 million. United Maritime had a positive return on equity of 0.18% and a negative net margin of 4.90%.

United Maritime Stock Performance

NASDAQ USEA opened at $2.36 on Friday. The company has a market cap of $22.51 million, a P/E ratio of -11.80 and a beta of 0.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.67 and a current ratio of 0.68. The business’s 50 day moving average price is $2.13 and its 200-day moving average price is $1.92. United Maritime has a fifty-two week low of $1.22 and a fifty-two week high of $2.41.

United Maritime Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $0.40 annualized dividend and a dividend yield of 16.9%. United Maritime’s payout ratio is currently -56.34%.

Analyst Ratings Changes

Separately, Weiss Ratings raised United Maritime from a “sell (d-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On United Maritime

An institutional investor recently raised its position in United Maritime stock. Renaissance Technologies LLC raised its holdings in United Maritime Corporation (NASDAQ:USEA) by 638.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,300 shares of the company’s stock after acquiring an additional 65,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.82% of United Maritime worth $128,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.63% of the company’s stock.

United Maritime Company Profile

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium‐ and large‐sized oil tankers, including Aframax and Suezmax vessels.