Maxim Group Increases Euroseas (NASDAQ:ESEA) Price Target to $62.00

Euroseas (NASDAQ:ESEA) had its price objective increased by Maxim Group from $57.00 to $62.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the shipping company’s stock.

Separately, Wall Street Zen raised Euroseas from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st.

Euroseas Stock Down 1.8%

Shares of NASDAQ ESEA opened at $46.78 on Monday. Euroseas has a twelve month low of $26.30 and a twelve month high of $50.92. The company has a quick ratio of 1.43, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $37.80 and a 200-day simple moving average of $34.58.

Euroseas (NASDAQ:ESEA) last released its earnings results on Wednesday, June 18th. The shipping company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.35 by $0.41. Euroseas had a return on equity of 31.70% and a net margin of 58.28%. The firm had revenue of $54.74 million during the quarter, compared to analysts’ expectations of $53.92 million. During the same period in the previous year, the firm posted $2.66 EPS. As a group, sell-side analysts expect that Euroseas will post 15.15 earnings per share for the current year.

Euroseas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 9th will be paid a dividend of $0.65 per share. The ex-dividend date is Wednesday, July 9th. This represents a $2.60 annualized dividend and a yield of 5.56%. Euroseas’s payout ratio is 14.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Euroseas by 1,611.0% during the 4th quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,756 shares in the last quarter. Mariner LLC acquired a new position in shares of Euroseas during the 4th quarter worth about $306,000. Cubist Systematic Strategies LLC boosted its position in shares of Euroseas by 4.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 10,813 shares of the shipping company’s stock worth $391,000 after acquiring an additional 471 shares in the last quarter. Boston Partners boosted its position in shares of Euroseas by 37.5% during the 1st quarter. Boston Partners now owns 17,045 shares of the shipping company’s stock worth $522,000 after acquiring an additional 4,647 shares in the last quarter. Finally, Novem Group acquired a new position in shares of Euroseas during the 4th quarter worth about $847,000. 6.27% of the stock is owned by institutional investors and hedge funds.

About Euroseas

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.