Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Plans Dividend Increase – $0.26 Per Share

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Friday, December 27th will be given a dividend of 0.26 per share by the shipping company on Friday, January 10th. This represents a $1.04 annualized dividend and a yield of 10.72%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.25.

Seanergy Maritime has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Seanergy Maritime to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 44.2%.

Seanergy Maritime Stock Down 1.0 %

Shares of SHIP traded down $0.10 during trading hours on Wednesday, hitting $9.70. The company had a trading volume of 136,196 shares, compared to its average volume of 247,760. The stock has a market capitalization of $200.79 million, a price-to-earnings ratio of 6.71 and a beta of 0.65. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 0.55. Seanergy Maritime has a 52-week low of $4.87 and a 52-week high of $13.19. The firm has a fifty day moving average price of $10.79 and a 200-day moving average price of $10.64.

Seanergy Maritime (NASDAQ:SHIP) last posted its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. The firm had revenue of $44.36 million during the quarter, compared to analysts’ expectations of $42.10 million. During the same quarter in the previous year, the business earned ($0.28) earnings per share. On average, equities research analysts forecast that Seanergy Maritime will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

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.