Euroseas Ltd. (NASDAQ:ESEA) Declares Dividend Increase – $0.65 Per Share

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.65 per share by the shipping company on Tuesday, March 18th. This represents a $2.60 annualized dividend and a yield of 7.34%. The ex-dividend date is Tuesday, March 11th. This is an increase from Euroseas’s previous quarterly dividend of $0.60.

Euroseas has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.9%.

Euroseas Trading Up 5.4 %

Shares of NASDAQ:ESEA traded up $1.82 during trading on Friday, reaching $35.40. 50,091 shares of the company traded hands, compared to its average volume of 36,333. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Euroseas has a 52-week low of $30.21 and a 52-week high of $50.92. The firm has a market capitalization of $248.01 million, a price-to-earnings ratio of 2.18 and a beta of 0.85. The business’s fifty day moving average is $33.79 and its 200-day moving average is $39.50.

Institutional Investors Weigh In On Euroseas

An institutional investor recently raised its position in Euroseas stock. Bank of America Corp DE boosted its stake in Euroseas Ltd. (NASDAQ:ESEA) by 1,611.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,865 shares of the shipping company’s stock after buying an additional 1,756 shares during the period. Bank of America Corp DE’s holdings in Euroseas were worth $68,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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.