Euroseas (NASDAQ:ESEA) Releases Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Euroseas (NASDAQ:ESEA - Get Free Report) issued its earnings results on Thursday. The shipping company reported $3.33 EPS for the quarter, missing analysts' consensus estimates of $3.66 by ($0.33), Zacks reports. Euroseas had a net margin of 54.21% and a return on equity of 34.73%. The business had revenue of $53.31 million during the quarter, compared to analysts' expectations of $52.20 million.

Euroseas Stock Down 4.8 %

Euroseas stock traded down $1.71 during midday trading on Monday, hitting $33.69. 41,885 shares of the stock were exchanged, compared to its average volume of 36,472. The firm has a market cap of $236.03 million, a P/E ratio of 2.08 and a beta of 0.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. Euroseas has a 1 year low of $30.21 and a 1 year high of $50.92. The company has a 50 day moving average price of $33.82 and a two-hundred day moving average price of $39.36.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.65 per share. This is an increase from Euroseas's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.60 annualized dividend and a yield of 7.72%. Euroseas's payout ratio is 14.80%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Euroseas stock. Bank of America Corp DE grew its stake in shares of Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 1,611.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. Institutional investors and hedge funds own 6.27% of the company's stock.

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Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Euroseas from a "buy" rating to a "hold" rating in a research note 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.