Euroseas Ltd. (NASDAQ:ESEA) to Issue Dividend Increase – $0.65 Per Share

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 0.65 per share by the shipping company on Tuesday, March 18th. This represents a $2.60 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Euroseas’s previous quarterly dividend of $0.60.

Euroseas has a payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 13.9%.

Euroseas Stock Performance

Shares of NASDAQ ESEA traded up $1.82 during trading hours on Friday, reaching $35.40. The stock had a trading volume of 50,185 shares, compared to its average volume of 36,335. The firm has a market cap of $248.01 million, a price-to-earnings ratio of 2.18 and a beta of 0.85. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53. Euroseas has a fifty-two week low of $30.21 and a fifty-two week high of $50.92. The firm has a 50-day moving average of $33.79 and a 200-day moving average of $39.50.

Hedge Funds Weigh In On Euroseas

An institutional investor recently raised its position in Euroseas stock. Bank of America Corp DE increased its position in Euroseas Ltd. (NASDAQ:ESEA) by 1,611.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865 shares of the shipping company’s stock after acquiring an additional 1,756 shares during the period. Bank of America Corp DE’s holdings in Euroseas were worth $68,000 as of its most recent SEC filing. 6.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.