Euroseas (NASDAQ:ESEA) Posts Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Euroseas (NASDAQ:ESEAGet Rating) announced its earnings results on Monday. The shipping company reported $4.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.53, MarketWatch Earnings reports. Euroseas had a return on equity of 81.90% and a net margin of 45.67%. During the same period last year, the company posted $0.45 earnings per share.

ESEA stock opened at $30.20 on Wednesday. The company has a market cap of $220.28 million, a P/E ratio of 5.08 and a beta of 0.53. Euroseas has a 1 year low of $13.72 and a 1 year high of $39.17. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.89 and a quick ratio of 0.82. The stock’s fifty day moving average price is $26.40 and its 200-day moving average price is $27.10.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 9th will be paid a $0.50 dividend. This is an increase from Euroseas’s previous quarterly dividend of $0.12. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Wednesday, June 8th.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Euroseas by 157.6% in the 3rd quarter. Morgan Stanley now owns 59,844 shares of the shipping company’s stock worth $2,012,000 after buying an additional 36,612 shares during the last quarter. LPL Financial LLC purchased a new position in Euroseas during the third quarter valued at $857,000. Walleye Capital LLC purchased a new position in Euroseas during the first quarter valued at $766,000. Goldman Sachs Group Inc. purchased a new position in Euroseas during the first quarter valued at $308,000. Finally, Millennium Management LLC purchased a new position in Euroseas during the second quarter valued at $294,000. Hedge funds and other institutional investors own 7.33% of the company’s stock.

Several brokerages have recently issued reports on ESEA. Zacks Investment Research lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Univest Sec began coverage on Euroseas in a research report on Thursday, May 19th. They issued a “buy” rating for the company. TheStreet lowered Euroseas from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. Finally, StockNews.com began coverage on Euroseas in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Euroseas presently has a consensus rating of “Buy” and a consensus price target of $36.33.

Euroseas Company Profile (Get Rating)

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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

Recommended Stories

Earnings History for Euroseas (NASDAQ:ESEA)

Receive News & Ratings for Euroseas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euroseas and related companies with MarketBeat.com's FREE daily email newsletter.