Euroseas (NASDAQ:ESEA) Shares Cross Above 200 Day Moving Average of $32.81

Euroseas Ltd. (NASDAQ:ESEA) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.81 and traded as high as $34.80. Euroseas shares last traded at $33.91, with a volume of 17,146 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Euroseas from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 20th.

Euroseas Stock Performance

The firm has a market capitalization of $237.71 million, a P/E ratio of 2.06 and a beta of 0.86. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $35.62 and a 200-day moving average of $32.81.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Wednesday, February 21st. The shipping company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.85 by ($0.24). The company had revenue of $50.69 million for the quarter, compared to the consensus estimate of $50.97 million. Euroseas had a return on equity of 45.15% and a net margin of 60.50%. On average, equities analysts anticipate that Euroseas Ltd. will post 11.64 earnings per share for the current fiscal year.

Euroseas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were given a dividend of $0.60 per share. This is a positive change from Euroseas’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 7.08%. The ex-dividend date was Thursday, March 7th. Euroseas’s dividend payout ratio (DPR) is currently 14.58%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp bought a new position in shares of Euroseas in the 1st quarter worth about $1,300,000. Quadrature Capital Ltd raised its position in shares of Euroseas by 51.4% in the 4th quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock worth $1,434,000 after acquiring an additional 15,618 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of Euroseas in the 4th quarter worth about $86,000. Virtu Financial LLC bought a new position in shares of Euroseas in the 4th quarter worth about $350,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Euroseas in the 4th quarter worth about $447,000. 6.27% of the stock is owned by institutional investors.

Euroseas Company Profile

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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.