Seanergy Maritime Holdings Corp. Expected to Earn Q2 2024 Earnings of $0.31 Per Share (NASDAQ:SHIP)

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP - Free Report) - Stock analysts at B. Riley increased their Q2 2024 EPS estimates for Seanergy Maritime in a research report issued to clients and investors on Tuesday, April 9th. B. Riley analyst L. Burke now expects that the shipping company will earn $0.31 per share for the quarter, up from their previous forecast of ($0.04). B. Riley currently has a "Buy" rating and a $13.00 target price on the stock. The consensus estimate for Seanergy Maritime's current full-year earnings is $0.69 per share. B. Riley also issued estimates for Seanergy Maritime's Q3 2024 earnings at $0.12 EPS and FY2024 earnings at $1.07 EPS.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last released its quarterly earnings results on Friday, March 15th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.41. The firm had revenue of $39.43 million for the quarter, compared to the consensus estimate of $33.90 million. Seanergy Maritime had a return on equity of 2.70% and a net margin of 1.68%.

Several other brokerages have also recently weighed in on SHIP. StockNews.com raised shares of Seanergy Maritime from a "hold" rating to a "buy" rating in a research note on Monday, March 18th. Noble Financial raised their target price on shares of Seanergy Maritime from $10.00 to $12.00 and gave the company an "outperform" rating in a research report on Monday, March 18th.

Seanergy Maritime Stock Down 2.4 %

Seanergy Maritime stock traded down $0.21 during midday trading on Friday, reaching $8.71. The stock had a trading volume of 200,172 shares, compared to its average volume of 219,409. The stock has a market capitalization of $171.15 million, a P/E ratio of 127.43 and a beta of 0.80. The firm's fifty day simple moving average is $8.22 and its 200-day simple moving average is $7.14. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.34 and a current ratio of 0.36. Seanergy Maritime has a 1-year low of $4.03 and a 1-year high of $9.44.

Seanergy Maritime Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, March 25th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, March 22nd. Seanergy Maritime's dividend payout ratio (DPR) is 142.86%.

Hedge Funds Weigh In On Seanergy Maritime

A number of institutional investors have recently added to or reduced their stakes in SHIP. BlackRock Inc. acquired a new stake in shares of Seanergy Maritime in the first quarter valued at approximately $25,000. HighTower Advisors LLC acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth about $61,000. Geode Capital Management LLC bought a new stake in shares of Seanergy Maritime during the 2nd quarter worth about $63,000. Equitable Holdings Inc. bought a new position in Seanergy Maritime in the 1st quarter valued at about $64,000. Finally, Virtu Financial LLC lifted its position in Seanergy Maritime by 16.9% during the fourth quarter. Virtu Financial LLC now owns 141,848 shares of the shipping company's stock worth $70,000 after acquiring an additional 20,550 shares during the last quarter. 29.36% of the stock is currently owned by institutional investors and hedge funds.

About Seanergy Maritime

Seanergy Maritime Holdings Corp., a shipping company, engages in the seaborne transportation of dry bulk commodities worldwide. It operates a fleet of 17 vessels with an aggregate cargo carrying capacity of approximately 3,054,820 dwt. The company was formerly known as Seanergy Merger Corp. and changed its name to Seanergy Maritime Holdings Corp.