Euroseas (NASDAQ:ESEA) Reaches New 52-Week High – Time to Buy?

Euroseas Ltd. (NASDAQ:ESEA) hit a new 52-week high on Friday . The company traded as high as $74.76 and last traded at $73.36, with a volume of 1840 shares traded. The stock had previously closed at $74.50.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESEA. Wall Street Zen cut Euroseas from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Alliance Global Partners restated a “buy” rating on shares of Euroseas in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Euroseas currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Euroseas Stock Performance

The business has a 50 day simple moving average of $67.77 and a 200 day simple moving average of $60.68. The company has a quick ratio of 4.82, a current ratio of 4.89 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $519.25 million, a PE ratio of 3.75 and a beta of 0.54.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings results on Thursday, February 26th. The shipping company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.01. Euroseas had a return on equity of 27.82% and a net margin of 60.11%.The company had revenue of $57.39 million during the quarter, compared to analysts’ expectations of $57.83 million. Equities research analysts predict that Euroseas Ltd. will post 17.34 EPS for the current fiscal year.

Euroseas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, March 10th. This is a positive change from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 4.1%. Euroseas’s dividend payout ratio (DPR) is 15.29%.

Institutional Investors Weigh In On Euroseas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC purchased a new stake in Euroseas in the first quarter valued at $1,591,000. State of Tennessee Department of Treasury acquired a new stake in shares of Euroseas in the fourth quarter valued at $404,000. Millennium Management LLC grew its stake in Euroseas by 171.7% during the 4th quarter. Millennium Management LLC now owns 53,386 shares of the shipping company’s stock worth $2,915,000 after purchasing an additional 33,738 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Euroseas during the 4th quarter worth $311,000. Finally, Lazard Asset Management LLC grew its stake in Euroseas by 3.7% during the 4th quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock worth $1,913,000 after purchasing an additional 1,262 shares in the last quarter. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Euroseas Company Profile

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.