Euroseas (NASDAQ:ESEA) Sets New 1-Year High – Still a Buy?

Euroseas Ltd. (NASDAQ:ESEA)’s share price hit a new 52-week high on Thursday . The stock traded as high as $79.48 and last traded at $79.25, with a volume of 22266 shares traded. The stock had previously closed at $75.99.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Zacks Research downgraded Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Alliance Global Partners restated a “buy” rating on shares of Euroseas in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Euroseas Price Performance

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 stock has a market cap of $557.32 million, a PE ratio of 4.16 and a beta of 0.45. The stock’s 50-day moving average is $69.40 and its two-hundred day moving average is $65.91.

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

Euroseas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 9th. This is a positive change from Euroseas’s previous quarterly dividend of $0.75. Euroseas’s dividend payout ratio is currently 16.86%.

Institutional Trading of Euroseas

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of Euroseas by 1,611.0% in the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,756 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Euroseas during the second quarter worth $226,000. Jump Financial LLC acquired a new stake in shares of Euroseas in the second quarter valued at $260,000. Raymond James Financial Inc. purchased a new position in Euroseas in the second quarter valued at $870,000. Finally, Jane Street Group LLC purchased a new stake in Euroseas during the 2nd quarter worth about $259,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

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.