Euroseas (NASDAQ:ESEA) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Euroseas (NASDAQ:ESEA) from a hold rating to a buy rating in a research note published on Monday morning.

Euroseas Price Performance

Euroseas stock opened at $33.69 on Monday. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $236.03 million, a PE ratio of 2.08 and a beta of 0.85. Euroseas has a 12-month low of $30.21 and a 12-month high of $50.92. The firm has a 50-day moving average price of $33.82 and a 200-day moving average price of $39.36.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 7.72%. This is an increase from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, March 11th. Euroseas’s dividend payout ratio (DPR) is 16.10%.

Institutional Investors Weigh In On Euroseas

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new stake in Euroseas in the third quarter worth about $248,000. Retireful LLC purchased a new stake in shares of Euroseas during the fourth quarter valued at $222,000. Exchange Traded Concepts LLC purchased a new stake in Euroseas during the 4th quarter valued at about $306,000. Sheaff Brock Investment Advisors LLC increased its holdings in Euroseas by 25.0% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after buying an additional 1,560 shares during the period. Finally, Barclays PLC increased its stake in shares of Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after acquiring an additional 251 shares during the period. 6.27% of the stock is owned by hedge funds and other institutional investors.

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.