Euroseas (NASDAQ:ESEA) Shares Down 3.8% – What’s Next?

Euroseas Ltd. (NASDAQ:ESEA)’s share price dropped 3.8% during trading on Tuesday . The stock traded as low as $74.57 and last traded at $74.6150. 2,425 shares changed hands during trading, a decline of 96% from the average session volume of 60,348 shares. The stock had previously closed at $77.59.

Analysts Set New Price Targets

A number of analysts recently weighed in on ESEA shares. Zacks Research downgraded Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Euroseas has a consensus rating of “Hold”.

Euroseas Stock Performance

The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $75.14 and a 200 day moving average price of $70.54. The stock has a market cap of $522.56 million, a PE ratio of 3.81 and a beta of 0.41.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.09 by $0.61. Euroseas had a return on equity of 26.58% and a net margin of 59.98%.The business had revenue of $56.50 million for the quarter, compared to analyst estimates of $55.98 million. Analysts expect that Euroseas Ltd. will post 18.03 earnings per share for the current year.

Euroseas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 9th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 9th. Euroseas’s dividend payout ratio is 16.47%.

Insider Activity

In related news, insider Symeon Pariaros sold 950 shares of Euroseas stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $79.00, for a total value of $75,050.00. Following the transaction, the insider directly owned 1,900 shares of the company’s stock, valued at $150,100. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On Euroseas

A number of large investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd increased its holdings in Euroseas by 33.1% during the 2nd quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock valued at $533,000 after purchasing an additional 1,998 shares during the period. Navellier & Associates Inc. lifted its holdings in Euroseas by 94.8% in the 2nd quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock worth $1,033,000 after buying an additional 7,575 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Euroseas in the 2nd quarter worth approximately $423,000. Redhawk Wealth Advisors Inc. grew its position in shares of Euroseas by 36.2% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,149 shares of the shipping company’s stock worth $275,000 after buying an additional 1,102 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Euroseas by 4.2% during the first quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock valued at $6,736,000 after buying an additional 4,087 shares during the period. Institutional investors own 6.27% of the company’s stock.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is a shipping company that owns and operates containerships. The company primarily focuses on feeder and intermediate-size vessels, which transport containerized cargo on regional and international trade routes and connect smaller ports with major shipping hubs.

Euroseas charters its vessels to liner companies and other customers under a combination of time-charter and voyage arrangements. Its fleet serves global container transportation markets, with operations managed from Greece and vessels registered under international shipping jurisdictions.

Founded in 2005, Euroseas is led by Aristides Pittas, who serves as chairman and chief executive officer.