CHURCHILL MANAGEMENT Corp Takes Position in Euroseas Ltd. (NASDAQ:ESEA)

CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Euroseas Ltd. (NASDAQ:ESEA) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,258 shares of the shipping company’s stock, valued at approximately $1,300,000. CHURCHILL MANAGEMENT Corp owned approximately 0.52% of Euroseas at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd lifted its holdings in Euroseas by 51.4% in the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after acquiring an additional 15,618 shares during the period. Acadian Asset Management LLC bought a new position in Euroseas in the third quarter valued at about $551,000. Janney Montgomery Scott LLC bought a new position in Euroseas in the fourth quarter valued at about $447,000. Virtu Financial LLC bought a new position in Euroseas in the fourth quarter valued at about $350,000. Finally, Jump Financial LLC bought a new position in Euroseas in the fourth quarter valued at about $262,000. Institutional investors own 6.27% of the company’s stock.

Euroseas Stock Performance

Shares of ESEA opened at $35.97 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $36.34 and a two-hundred day simple moving average of $35.67. The stock has a market cap of $252.15 million, a price-to-earnings ratio of 2.36 and a beta of 0.80. Euroseas Ltd. has a 52 week low of $19.71 and a 52 week high of $42.29.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings results on Thursday, May 23rd. The shipping company reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.36). The company had revenue of $48.29 million during the quarter, compared to analysts’ expectations of $48.10 million. Euroseas had a return on equity of 39.84% and a net margin of 54.50%. On average, analysts expect that Euroseas Ltd. will post 9.05 EPS for the current year.

Euroseas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 12th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend was Wednesday, June 12th. Euroseas’s payout ratio is 15.76%.

Analyst Upgrades and Downgrades

Separately, Noble Financial increased their target price on Euroseas from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th.

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.