Euroseas (NASDAQ:ESEA) Shares Cross Above 200-Day Moving Average of $32.81

Euroseas Ltd. (NASDAQ:ESEA)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.81 and traded as high as $34.80. Euroseas shares last traded at $33.91, with a volume of 17,146 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Euroseas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th.

Euroseas Trading Down 0.2 %

The business’s 50 day moving average price is $35.59 and its two-hundred day moving average price is $32.85. The company has a market capitalization of $237.71 million, a price-to-earnings ratio of 2.06 and a beta of 0.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.29.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Wednesday, February 21st. The shipping company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.85 by ($0.24). The company had revenue of $50.69 million during the quarter, compared to analyst estimates of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. Equities analysts forecast that Euroseas Ltd. will post 11.64 earnings per share for the current fiscal year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 7.08%. Euroseas’s dividend payout ratio is currently 14.58%.

Institutional Trading of Euroseas

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESEA. Acadian Asset Management LLC acquired a new stake in Euroseas during the third quarter valued at approximately $551,000. Quadrature Capital Ltd acquired a new stake in Euroseas during the third quarter valued at approximately $807,000. Jump Financial LLC acquired a new stake in Euroseas during the fourth quarter valued at approximately $262,000. Janney Montgomery Scott LLC acquired a new stake in Euroseas during the fourth quarter valued at approximately $447,000. Finally, Virtu Financial LLC acquired a new stake in Euroseas during the fourth quarter valued at approximately $350,000. 6.27% of the stock is owned by institutional investors and hedge funds.

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.