Noble Financial Increases Euroseas (NASDAQ:ESEA) Price Target to $53.00

Euroseas (NASDAQ:ESEA) had its target price boosted by Noble Financial from $49.00 to $53.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the shipping company’s stock. Noble Financial also issued estimates for Euroseas’ Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $9.05 EPS, Q1 2025 earnings at $2.43 EPS, Q2 2025 earnings at $1.49 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $6.32 EPS.

Euroseas Price Performance

Shares of ESEA opened at $35.41 on Wednesday. The firm’s 50-day simple moving average is $36.35 and its two-hundred day simple moving average is $35.47. Euroseas has a fifty-two week low of $19.71 and a fifty-two week high of $42.29. The stock has a market cap of $248.22 million, a PE ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 0.96.

Euroseas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 12th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend is Wednesday, June 12th. Euroseas’s dividend payout ratio (DPR) is 15.76%.

Institutional Investors Weigh In On Euroseas

A number of institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in Euroseas by 49.6% in the 1st quarter. Acadian Asset Management LLC now owns 71,763 shares of the shipping company’s stock worth $2,570,000 after purchasing an additional 23,796 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Euroseas by 51.4% during the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after buying an additional 15,618 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Euroseas during the first quarter valued at approximately $1,300,000. Janney Montgomery Scott LLC increased its position in shares of Euroseas by 18.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after acquiring an additional 2,693 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Euroseas in the 4th quarter worth approximately $350,000. 6.27% of the stock is owned by hedge funds and other institutional investors.

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.