Euroseas Ltd. (NASDAQ:ESEA – Get Free Report) 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.
Analyst Upgrades and Downgrades
Separately, Noble Financial upgraded shares of Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th.
Get Our Latest Report on Euroseas
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.
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