United Maritime (NASDAQ:USEA) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

United Maritime (NASDAQ:USEA) announced its quarterly earnings results on Thursday. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.26 by $0.12, FiscalAI reports. United Maritime had a positive return on equity of 2.31% and a negative net margin of 5.07%. The firm had revenue of $11.97 million for the quarter, compared to analyst estimates of $10.90 million.

United Maritime Price Performance

Shares of USEA opened at $3.02 on Friday. The company has a 50 day moving average of $2.70 and a two-hundred day moving average of $2.42. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.45. United Maritime has a twelve month low of $1.42 and a twelve month high of $3.20. The company has a market cap of $28.81 million, a price-to-earnings ratio of 17.57 and a beta of 0.83.

United Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Thursday, December 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 26.5%. This is a positive change from United Maritime’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 24th. United Maritime’s payout ratio is -200.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on USEA shares. Wall Street Zen downgraded shares of United Maritime from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Weiss Ratings cut shares of United Maritime from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About United Maritime

United Maritime Corporation (NASDAQ: USEA) is a global shipping company engaged in the ownership and operation of oceangoing vessels. The company primarily provides seaborne transportation services for dry bulk commodities and liquid cargoes through its fleet of dry bulk carriers and tankers. United Maritime’s vessels transport commodities such as grains, coal, and other dry bulk materials, as well as petroleum products and related liquid cargoes. The company generates revenue by employing its vessels under voyage charters, time charters, and other commercial arrangements with customers in international shipping markets.