Euroseas Ltd. (NASDAQ:ESEA) Raises Dividend to $0.65 Per Share

Euroseas Ltd. (NASDAQ:ESEA - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.65 per share by the shipping company on Tuesday, March 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Euroseas's previous quarterly dividend of $0.60.

Euroseas has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Euroseas to earn $17.27 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 15.1%.

Euroseas Trading Down 1.3 %

Euroseas stock traded down $0.43 during midday trading on Tuesday, reaching $33.26. The stock had a trading volume of 57,312 shares, compared to its average volume of 36,978. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. Euroseas has a 52-week low of $30.21 and a 52-week high of $50.92. The firm has a market cap of $233.02 million, a price-to-earnings ratio of 2.05 and a beta of 0.85. The company has a fifty day moving average of $33.80 and a 200 day moving average of $39.28.

Institutional Trading of Euroseas

A hedge fund recently raised its stake in Euroseas stock. Bank of America Corp DE increased its stake in Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 1,611.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,865 shares of the shipping company's stock after purchasing an additional 1,756 shares during the quarter. Bank of America Corp DE's holdings in Euroseas were worth $68,000 at the end of the most recent quarter. 6.27% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Euroseas from a "hold" rating to a "buy" rating in a report on Monday.

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.