Euroseas (NASDAQ:ESEA) Shares Pass Above 200 Day Moving Average – What’s Next?

Euroseas Ltd. (NASDAQ:ESEA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $63.10 and traded as high as $69.75. Euroseas shares last traded at $67.81, with a volume of 49,354 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ESEA shares. Weiss Ratings downgraded shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Alliance Global Partners reaffirmed a “buy” rating on shares of Euroseas in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Euroseas Trading Down 2.2%

The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46. The firm has a market cap of $468.43 million, a P/E ratio of 3.50 and a beta of 0.49. The firm has a 50 day simple moving average of $68.87 and a 200 day simple moving average of $63.12.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.26 by $0.44. Euroseas had a return on equity of 27.55% and a net margin of 58.31%.The firm had revenue of $55.84 million for the quarter, compared to analysts’ expectations of $56.61 million. On average, equities research analysts predict that Euroseas Ltd. will post 18.1 EPS for the current fiscal year.

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 9th were paid a $0.80 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $3.20 annualized dividend and a yield of 4.8%. This is a boost from Euroseas’s previous quarterly dividend of $0.75. Euroseas’s dividend payout ratio is currently 16.86%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James Financial Inc. increased its holdings in shares of Euroseas by 1.3% in the third quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock worth $1,175,000 after purchasing an additional 260 shares during the period. Russell Investments Group Ltd. bought a new stake in Euroseas during the fourth quarter valued at $34,000. Bank of America Corp DE grew its position in Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after buying an additional 888 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after buying an additional 1,080 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Euroseas by 3.7% in the 4th quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock worth $1,913,000 after acquiring an additional 1,262 shares during the last quarter. 6.27% of the stock is owned by institutional investors.

About Euroseas

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.