Euroseas Ltd. (ESEA) To Go Ex-Dividend on March 10th

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Tuesday, March 10th will be given a dividend of 0.75 per share by the shipping company on Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a 7.1% increase from Euroseas’s previous quarterly dividend of $0.70.

Euroseas has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 16.2%.

Euroseas Trading Up 4.0%

Shares of NASDAQ:ESEA opened at $65.54 on Friday. The stock has a market capitalization of $459.24 million, a PE ratio of 3.34 and a beta of 0.81. Euroseas has a 1 year low of $26.30 and a 1 year high of $66.00. The firm has a fifty day moving average price of $55.94 and a 200 day moving average price of $58.09. The company has a current ratio of 3.59, a quick ratio of 3.53 and a debt-to-equity ratio of 0.47.

Euroseas (NASDAQ:ESEA) last posted its earnings results on Wednesday, February 25th. The shipping company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.01. Euroseas had a return on equity of 28.87% and a net margin of 60.11%.The company had revenue of $57.39 million for the quarter, compared to analyst estimates of $57.83 million. Analysts expect that Euroseas will post 15.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Euroseas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Euroseas during the 4th quarter worth about $34,000. Allworth Financial LP bought a new position in Euroseas in the 2nd quarter worth approximately $45,000. Bank of America Corp DE lifted its holdings in shares of Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after buying an additional 888 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Euroseas by 540.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after buying an additional 1,080 shares during the last quarter. Finally, Quarry LP acquired a new position in Euroseas during the 3rd quarter valued at $89,000. 6.27% of the stock is owned by institutional investors and hedge funds.

About Euroseas

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.