Q2 2024 Earnings Estimate for Seanergy Maritime Holdings Corp. Issued By B. Riley (NASDAQ:SHIP)

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) – Equities research analysts at B. Riley increased their Q2 2024 earnings per share (EPS) estimates for Seanergy Maritime in a research note issued on Tuesday, April 9th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $0.31 per share for the quarter, up from their previous estimate of ($0.04). B. Riley has a “Buy” rating and a $13.00 price objective on the stock. The consensus estimate for Seanergy Maritime’s current full-year earnings is $1.07 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) last posted its earnings results on Friday, March 15th. The shipping company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.41. Seanergy Maritime had a return on equity of 2.70% and a net margin of 1.68%. The firm had revenue of $39.43 million for the quarter, compared to analyst estimates of $33.90 million.

SHIP has been the topic of a number of other research reports. Noble Financial lifted their target price on Seanergy Maritime from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. StockNews.com raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research report on Monday, March 18th.

Seanergy Maritime Stock Performance

SHIP opened at $8.71 on Friday. The business’s 50-day moving average price is $8.25 and its two-hundred day moving average price is $7.18. Seanergy Maritime has a 1 year low of $4.03 and a 1 year high of $9.44. The company has a market capitalization of $171.15 million, a price-to-earnings ratio of 124.43 and a beta of 0.80. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.36 and a quick ratio of 0.34.

Institutional Investors Weigh In On Seanergy Maritime

Institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new position in Seanergy Maritime during the first quarter valued at approximately $61,000. Equitable Holdings Inc. acquired a new position in shares of Seanergy Maritime during the first quarter worth $64,000. Renaissance Technologies LLC increased its holdings in shares of Seanergy Maritime by 290.5% during the first quarter. Renaissance Technologies LLC now owns 2,827,275 shares of the shipping company’s stock worth $3,223,000 after buying an additional 2,103,300 shares in the last quarter. State Street Corp increased its holdings in shares of Seanergy Maritime by 106.3% during the first quarter. State Street Corp now owns 171,130 shares of the shipping company’s stock worth $204,000 after buying an additional 88,179 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Seanergy Maritime by 183.1% during the first quarter. Jane Street Group LLC now owns 127,749 shares of the shipping company’s stock worth $146,000 after buying an additional 82,629 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

Seanergy Maritime Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, March 25th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, March 22nd. Seanergy Maritime’s dividend payout ratio is presently 142.86%.

Seanergy Maritime Company Profile

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.