Equities Analysts Set Expectations for SHIP FY2024 Earnings

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP - Free Report) - Stock analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for shares of Seanergy Maritime in a research note issued to investors on Tuesday, January 28th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $2.01 per share 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 downgraded shares of Seanergy Maritime from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 13th.

Seanergy Maritime Stock Performance

Shares of NASDAQ SHIP traded up $0.06 during trading hours on Wednesday, reaching $6.95. The stock had a trading volume of 157,835 shares, compared to its average volume of 238,091. The firm has a 50-day moving average of $7.28 and a 200-day moving average of $9.26. The firm has a market cap of $143.86 million, a price-to-earnings ratio of 2.97 and a beta of 0.65. The company has a current ratio of 1.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week high of $13.19.

Seanergy Maritime (NASDAQ:SHIP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million for the quarter, compared to analyst estimates of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same period last year, the business earned ($0.28) EPS.

Hedge Funds Weigh In On Seanergy Maritime

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Seanergy Maritime during the 4th quarter worth approximately $25,000. Trueblood Wealth Management LLC purchased a new position in Seanergy Maritime in the fourth quarter worth $97,000. MML Investors Services LLC acquired a new stake in Seanergy Maritime in the third quarter valued at $383,000. XTX Topco Ltd boosted its position in shares of Seanergy Maritime by 3.7% during the 3rd quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company's stock worth $501,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Seanergy Maritime by 77.9% during the 3rd quarter. Quarry LP now owns 3,017 shares of the shipping company's stock worth $37,000 after purchasing an additional 1,321 shares during the period. 29.36% of the stock is currently owned by hedge funds and other institutional investors.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 14.96%. The ex-dividend date was Friday, December 27th. This is a boost from Seanergy Maritime's previous quarterly dividend of $0.25. Seanergy Maritime's dividend payout ratio is 44.44%.

Seanergy Maritime Company Profile

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.