Seanergy Maritime Holdings Corp. Announces Quarterly Dividend of $0.03 (NASDAQ:SHIP)

Posted by on Jun 1st, 2022

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP – Get Rating) announced a quarterly dividend on Wednesday, June 1st, Wall Street Journal reports. Investors of record on Tuesday, June 28th will be given a dividend of 0.025 per share by the shipping company on Thursday, July 14th. This represents a $0.10 annualized dividend and a yield of 8.55%. The ex-dividend date is Monday, June 27th.

Seanergy Maritime has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 23.8%.

Shares of NASDAQ:SHIP traded up $0.03 during mid-day trading on Wednesday, hitting $1.17. The stock had a trading volume of 2,963,014 shares, compared to its average volume of 3,541,322. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.52 and a current ratio of 0.54. The company has a market cap of $179.17 million, a PE ratio of 5.50 and a beta of 0.37. Seanergy Maritime has a 12-month low of $0.79 and a 12-month high of $1.62. The company’s 50 day moving average is $1.13 and its 200-day moving average is $1.06.

Seanergy Maritime (NASDAQ:SHIP – Get Rating) last issued its quarterly earnings results on Tuesday, May 31st. The shipping company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Seanergy Maritime had a net margin of 27.01% and a return on equity of 22.76%. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts predict that Seanergy Maritime will post 0.35 EPS for the current fiscal year.

SHIP has been the subject of a number of research analyst reports. Noble Financial reiterated an “outperform” rating and issued a $1.50 target price on shares of Seanergy Maritime in a research report on Friday, May 20th. StockNews.com initiated coverage on shares of Seanergy Maritime in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded shares of Seanergy Maritime from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Thursday, May 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Seanergy Maritime currently has an average rating of “Buy” and a consensus target price of $1.81.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Seanergy Maritime by 290.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,827,275 shares of the shipping company’s stock worth $3,223,000 after purchasing an additional 2,103,300 shares during the last quarter. Jane Street Group LLC acquired a new position in Seanergy Maritime in the 3rd quarter valued at $715,000. Millennium Management LLC acquired a new position in Seanergy Maritime in the 2nd quarter valued at $347,000. Cubist Systematic Strategies LLC acquired a new position in Seanergy Maritime in the 3rd quarter valued at $278,000. Finally, State Street Corp grew its stake in Seanergy Maritime by 106.3% in the 1st quarter. State Street Corp now owns 171,130 shares of the shipping company’s stock valued at $204,000 after buying an additional 88,179 shares during the last quarter. Institutional investors own 4.42% of the company’s stock.

Seanergy Maritime Company Profile (Get Rating)

Seanergy Maritime Holdings Corp., an international shipping company, engages in the seaborne transportation of dry bulk commodities primarily iron ore and coal worldwide. It operates a fleet of 17 Capesize vessels with an average age of 12.1 years and aggregate cargo carrying capacity of 3,011,083 deadweight.

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