Euroseas Ltd. (NASDAQ:ESEA) Declares Quarterly Dividend of $0.80

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Thursday, August 13th. Stockholders of record on Wednesday, September 9th will be given a dividend of 0.80 per share by the shipping company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, September 9th.

Euroseas has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings.

Euroseas Stock Down 1.2%

Euroseas stock opened at $73.59 on Friday. The company has a market capitalization of $519.18 million, a P/E ratio of 3.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.38 and a current ratio of 5.46. Euroseas has a fifty-two week low of $51.00 and a fifty-two week high of $79.67. The stock has a 50-day simple moving average of $71.20 and a 200-day simple moving average of $67.35.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, August 13th. The shipping company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. Euroseas had a return on equity of 27.55% and a net margin of 58.31%.The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. Equities research analysts expect that Euroseas will post 18.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ESEA shares. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Euroseas from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Alliance Global Partners restated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Finally, Weiss Ratings cut shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.