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

Euroseas Ltd. (NASDAQ:ESEA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 9th will be given 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 6.08%. The ex-dividend date of this dividend is Monday, December 9th.

Euroseas has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 6.7 %

Shares of NASDAQ ESEA opened at $39.45 on Friday. Euroseas has a 1-year low of $26.20 and a 1-year high of $50.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41. The business’s 50 day moving average is $43.67 and its two-hundred day moving average is $40.95. The stock has a market capitalization of $276.39 million, a P/E ratio of 2.43 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ESEA shares. StockNews.com downgraded shares of Euroseas from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Alliance Global Partners started coverage on Euroseas in a research note on Monday, September 9th. They set a “buy” rating and a $60.00 target price on the stock.

About Euroseas

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.