Euroseas (ESEA) Declares $0.50 Dividend
Euroseas said on May 16, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.50 per share.
Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 16, 2023.
At the current share price of $19.65 / share, the stock's dividend yield is 10.18%.
Looking back five years and taking a sample every week, the average dividend yield has been 30.46%, the lowest has been 5.72%, and the highest has been 104.71%. The standard deviation of yields is 25.93 (n=237).
The current dividend yield is 0.78 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 16 funds or institutions reporting positions in Euroseas. This is a decrease of 6 owner(s) or 27.27% in the last quarter. Average portfolio weight of all funds dedicated to ESEA is 0.19%, an increase of 18.16%. Total shares owned by institutions decreased in the last three months by 17.78% to 279K shares.
Analyst Price Forecast Suggests 55.73% Upside
As of May 11, 2023, the average one-year price target for Euroseas is 30.60. The forecasts range from a low of 30.30 to a high of $31.50. The average price target represents an increase of 55.73% from its latest reported closing price of 19.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Euroseas is 207MM, an increase of 15.52%. The projected annual non-GAAP EPS is 15.67.
What are Other Shareholders Doing?
Renaissance Technologies holds 51K shares representing 0.72% ownership of the company. In it's prior filing, the firm reported owning 53K shares, representing a decrease of 4.74%. The firm decreased its portfolio allocation in ESEA by 7.07% over the last quarter.
Boston Partners holds 38K shares representing 0.54% ownership of the company. No change in the last quarter.
AUERX - Auer Growth Fund holds 38K shares representing 0.53% ownership of the company. No change in the last quarter.
Marshall Wace, Llp holds 36K shares representing 0.52% ownership of the company. In it's prior filing, the firm reported owning 68K shares, representing a decrease of 86.48%. The firm decreased its portfolio allocation in ESEA by 66.47% over the last quarter.
Perritt Capital Management holds 32K shares representing 0.46% ownership of the company. No change in the last quarter.
Euroseas Background Information
(This description is provided by the company.)
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 14 vessels, including 9 Feeder containerships and 5 Intermediate Container carriers. Euroseas 14 containerships have a cargo capacity of 42,281 teu.
This story originally appeared on Fintel.