Euroseas Ltd. (NASDAQ:ESEA) Declares Quarterly Dividend of $0.60

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be paid a dividend of 0.60 per share by the shipping company on Tuesday, December 17th. This represents a $2.40 annualized dividend and a yield of 6.09%. The ex-dividend date is Monday, December 9th.

Euroseas has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Euroseas to earn $13.04 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 18.4%.

Euroseas Price Performance

ESEA traded down $2.92 during trading on Thursday, reaching $39.38. The company’s stock had a trading volume of 89,558 shares, compared to its average volume of 40,801. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $43.67 and a two-hundred day simple moving average of $40.95. Euroseas has a 1 year low of $26.20 and a 1 year high of $50.92. The company has a market cap of $276.05 million, a price-to-earnings ratio of 2.50 and a beta of 0.88.

Analyst Ratings Changes

Several brokerages have recently weighed in on ESEA. StockNews.com downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Alliance Global Partners began coverage on shares of Euroseas in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 target price for the company.

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.