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

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Monday, December 9th.

Euroseas has a dividend payout ratio of 18.8% meaning 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 Stock Up 2.7 %

Shares of NASDAQ:ESEA opened at $40.50 on Friday. Euroseas has a fifty-two week low of $26.20 and a fifty-two week high of $50.92. The firm’s 50 day moving average price is $43.58 and its 200 day moving average price is $40.94. 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 stock has a market cap of $283.91 million, a price-to-earnings ratio of 2.50 and a beta of 0.88.

Analysts Set New Price Targets

A number of brokerages recently commented 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 assumed coverage on Euroseas in a research report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective 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.