Seanergy Maritime (NASDAQ:SHIP) Issues Quarterly Earnings Results

Seanergy Maritime (NASDAQ:SHIP) released its quarterly earnings data on Tuesday. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.14, Yahoo Finance reports. The company had revenue of $43.13 million during the quarter, compared to analysts’ expectations of $40.69 million. Seanergy Maritime had a return on equity of 7.06% and a net margin of 12.06%. During the same period last year, the firm posted $0.05 earnings per share.

Seanergy Maritime Price Performance

NASDAQ:SHIP traded down $0.06 during trading hours on Wednesday, reaching $9.93. 307,005 shares of the company were exchanged, compared to its average volume of 253,358. The business has a 50 day moving average of $10.43 and a 200 day moving average of $9.46. Seanergy Maritime has a 1-year low of $4.87 and a 1-year high of $13.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.36 and a quick ratio of 0.34. The company has a market capitalization of $194.99 million, a P/E ratio of 12.53 and a beta of 0.61.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.07%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.03. The ex-dividend date is Friday, September 27th. Seanergy Maritime’s payout ratio is presently 12.50%.

Analysts Set New Price Targets

A number of research analysts recently commented on SHIP shares. StockNews.com upgraded shares of Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Monday. Noble Financial upgraded Seanergy Maritime to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, B. Riley boosted their price target on Seanergy Maritime from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

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.