Euroseas Ltd. (NASDAQ:ESEA) to Post Q4 2022 Earnings of $3.82 Per Share, Univest Sec Forecasts

Euroseas Ltd. (NASDAQ:ESEA – Get Rating) – Equities researchers at Univest Sec increased their Q4 2022 earnings per share (EPS) estimates for shares of Euroseas in a note issued to investors on Tuesday, August 23rd. Univest Sec analyst J. Jang now anticipates that the shipping company will earn $3.82 per share for the quarter, up from their previous estimate of $3.76. Univest Sec currently has a “Buy” rating on the stock. The consensus estimate for Euroseas’ current full-year earnings is $15.43 per share. Univest Sec also issued estimates for Euroseas’ Q1 2023 earnings at $4.29 EPS, Q2 2023 earnings at $6.37 EPS, Q3 2023 earnings at $6.18 EPS, Q4 2023 earnings at $5.88 EPS, FY2023 earnings at $22.72 EPS, Q1 2024 earnings at $4.71 EPS, Q2 2024 earnings at $4.91 EPS and FY2024 earnings at $22.22 EPS.

Separately, StockNews.com raised Euroseas from a “hold” rating to a “buy” rating in a research note on Friday, June 3rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Euroseas has a consensus rating of “Buy” and an average target price of $40.00.

Euroseas Stock Performance

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ESEA stock opened at $22.86 on Friday. The business’s fifty day moving average is $24.00 and its 200-day moving average is $26.50. The company has a quick ratio of 0.18, a current ratio of 0.23 and a debt-to-equity ratio of 0.48. The company has a market cap of $166.74 million, a P/E ratio of 1.80 and a beta of 0.64. Euroseas has a twelve month low of $20.38 and a twelve month high of $39.17.

Hedge Funds Weigh In On Euroseas

Several institutional investors have recently made changes to their positions in ESEA. Millennium Management LLC grew its position in shares of Euroseas by 57.1% during the 2nd quarter. Millennium Management LLC now owns 136,234 shares of the shipping company’s stock valued at $3,256,000 after acquiring an additional 49,492 shares during the period. Renaissance Technologies LLC lifted its stake in Euroseas by 20.7% in the 2nd quarter. Renaissance Technologies LLC now owns 63,078 shares of the shipping company’s stock worth $1,508,000 after purchasing an additional 10,800 shares in the last quarter. Walleye Capital LLC purchased a new stake in Euroseas in the 1st quarter worth approximately $766,000. L & S Advisors Inc purchased a new stake in Euroseas in the 1st quarter worth approximately $348,000. Finally, Navellier & Associates Inc. raised its position in shares of Euroseas by 6.9% during the 4th quarter. Navellier & Associates Inc. now owns 10,897 shares of the shipping company’s stock valued at $271,000 after buying an additional 706 shares in the last quarter. Institutional investors and hedge funds own 7.33% of the company’s stock.

Euroseas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 8.75%. Euroseas’s dividend payout ratio (DPR) is currently 15.79%.

Euroseas Company Profile

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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 May 03, 2022, it had a fleet of 18 vessels, including 10 feeder and 8 intermediate containerships with a cargo capacity of approximately 58,871 twenty-foot equivalent unit (teu).

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