B. Riley Boosts Earnings Estimates for Seanergy Maritime

Key Points

• B. Riley has significantly raised its FY2025 earnings per share (EPS) forecast for Seanergy Maritime from $0.23 to $0.33.
• The company recently declared a quarterly dividend of $0.05 per share, yielding an annualized rate of 2.4%.
• Seanergy Maritime's stock has shown a 3.2% increase recently, with shares trading at $8.41 and a consensus price target of $11.00.

Seanergy Maritime Holdings Corp (NASDAQ:SHIP - Free Report) - Investment analysts at B. Riley raised their FY2025 earnings per share (EPS) estimates for Seanergy Maritime in a research note issued to investors on Thursday, October 23rd. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $0.33 per share for the year, up from their previous forecast of $0.23. The consensus estimate for Seanergy Maritime's current full-year earnings is $2.01 per share.

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Seanergy Maritime in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Seanergy Maritime has an average rating of "Hold" and a consensus price target of $11.00.

Seanergy Maritime Stock Up 3.2%

Shares of NASDAQ:SHIP opened at $8.41 on Friday. Seanergy Maritime has a 1 year low of $4.78 and a 1 year high of $10.16. The business has a 50 day simple moving average of $8.21 and a two-hundred day simple moving average of $6.98. The firm has a market capitalization of $175.77 million, a PE ratio of 11.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.39 and a quick ratio of 0.37.

Seanergy Maritime Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 29th. Seanergy Maritime's payout ratio is currently 27.40%.

Hedge Funds Weigh In On Seanergy Maritime

Several institutional investors have recently bought and sold shares of SHIP. Cambridge Investment Research Advisors Inc. purchased a new position in Seanergy Maritime during the first quarter valued at approximately $129,000. WMG Financial Advisors LLC purchased a new position in Seanergy Maritime during the second quarter valued at approximately $109,000. R Squared Ltd purchased a new position in Seanergy Maritime during the second quarter valued at approximately $122,000. Campbell & CO Investment Adviser LLC purchased a new position in Seanergy Maritime during the second quarter valued at approximately $90,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Seanergy Maritime by 512.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company's stock valued at $546,000 after buying an additional 72,423 shares during the period. 29.36% of the stock is owned by hedge funds and other institutional investors.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, provides seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 16 Capesize dry bulk vessels and one Newcastlemax dry bulk vessel with a cargo-carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp.

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