United Maritime (NASDAQ:USEA) Announces Earnings Results, Beats Expectations By $0.14 EPS

United Maritime (NASDAQ:USEA) issued its quarterly earnings data on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.14, Zacks reports. The firm had revenue of $7.95 million during the quarter, compared to the consensus estimate of $8.10 million. United Maritime had a positive return on equity of 0.18% and a negative net margin of 4.90%.

United Maritime Price Performance

NASDAQ:USEA opened at $2.36 on Tuesday. The stock’s fifty day moving average price is $2.14 and its two-hundred day moving average price is $1.93. United Maritime has a 52-week low of $1.22 and a 52-week high of $2.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.67 and a current ratio of 0.68. The company has a market cap of $22.51 million, a price-to-earnings ratio of -11.80 and a beta of 0.75.

United Maritime Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 16.9%. The ex-dividend date is Monday, June 29th. United Maritime’s payout ratio is -200.00%.

Institutional Investors Weigh In On United Maritime

A hedge fund recently raised its position in United Maritime stock. Renaissance Technologies LLC lifted its position in shares of United Maritime Corporation (NASDAQ:USEA) by 638.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,300 shares of the company’s stock after acquiring an additional 65,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.82% of United Maritime worth $128,000 at the end of the most recent reporting period. Institutional investors own 1.63% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded United Maritime from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

About United Maritime

United Maritime Corporation is a Marshall Islands–incorporated shipping company that provides seaborne transportation of crude oil and petroleum products. Traded on the NASDAQ under the symbol USEA, the company markets its tanker services to major oil producers, traders and refiners around the world. Its business model combines vessel ownership with time-charter contracts to deliver tailored shipping solutions across the energy supply chain.

The company’s fleet is composed primarily of medium? and large?sized oil tankers, including Aframax and Suezmax vessels.