B. Riley Reduces Earnings Estimates for Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ:SHIPFree Report) – Equities researchers at B. Riley dropped their FY2024 EPS estimates for shares of Seanergy Maritime in a research note issued on Tuesday, January 28th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $2.01 for the year, down from their prior estimate of $2.10. The consensus estimate for Seanergy Maritime’s current full-year earnings is $2.10 per share. B. Riley also issued estimates for Seanergy Maritime’s Q4 2024 earnings at $0.22 EPS.

Separately, StockNews.com cut Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 13th.

Get Our Latest Analysis on SHIP

Seanergy Maritime Stock Performance

SHIP opened at $6.89 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $9.28. The firm has a market capitalization of $142.62 million, a P/E ratio of 2.94 and a beta of 0.65. Seanergy Maritime has a 12-month low of $6.55 and a 12-month high of $13.19.

Seanergy Maritime (NASDAQ:SHIPGet Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. The company had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. During the same period last year, the business posted ($0.28) earnings per share.

Seanergy Maritime Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 15.09%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.25. Seanergy Maritime’s dividend payout ratio (DPR) is presently 44.44%.

Hedge Funds Weigh In On Seanergy Maritime

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Seanergy Maritime by 77.9% in the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after acquiring an additional 1,321 shares during the period. XTX Topco Ltd raised its stake in shares of Seanergy Maritime by 3.7% in the third quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 1,447 shares in the last quarter. R Squared Ltd bought a new position in Seanergy Maritime in the fourth quarter worth $25,000. Trueblood Wealth Management LLC acquired a new stake in Seanergy Maritime during the fourth quarter worth $97,000. Finally, D.A. Davidson & CO. bought a new stake in Seanergy Maritime in the 3rd quarter valued at $179,000. 29.36% of the stock is currently owned by institutional investors.

About Seanergy Maritime

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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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