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

Euroseas Ltd. (NASDAQ:ESEA) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Monday, September 9th will be given a dividend of 0.60 per share by the shipping company on Tuesday, September 17th. This represents a $2.40 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Monday, September 9th.

Euroseas has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Euroseas to earn $6.80 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 35.3%.

Euroseas Stock Performance

NASDAQ:ESEA traded up $3.92 during trading hours on Wednesday, hitting $39.90. 88,292 shares of the company were exchanged, compared to its average volume of 38,587. The company’s 50 day moving average price is $37.65 and its 200-day moving average price is $36.94. The stock has a market capitalization of $279.54 million, a price-to-earnings ratio of 2.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.96 and a quick ratio of 0.91. Euroseas has a 52-week low of $21.26 and a 52-week high of $42.46.

Euroseas (NASDAQ:ESEA) last posted its quarterly earnings data on Thursday, May 23rd. The shipping company reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.36). Euroseas had a return on equity of 39.84% and a net margin of 54.50%. The company had revenue of $48.29 million for the quarter, compared to analyst estimates of $48.10 million. As a group, research analysts forecast that Euroseas will post 9.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Noble Financial upgraded shares of Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.

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.