Seanergy Maritime (NASDAQ:SHIP) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Seanergy Maritime (NASDAQ:SHIP) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Separately, Noble Financial raised shares of Seanergy Maritime to a “strong-buy” rating in a research report on Tuesday, July 23rd.

Seanergy Maritime Price Performance

SHIP opened at $9.56 on Tuesday. The stock has a fifty day moving average price of $10.69 and a 200 day moving average price of $10.62. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a 1 year low of $4.93 and a 1 year high of $13.19. The stock has a market cap of $197.89 million, a price-to-earnings ratio of 4.09 and a beta of 0.65.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.43% and a net margin of 28.37%. The business had revenue of $44.36 million during the quarter, compared to analyst estimates of $42.10 million. During the same period in the previous year, the company earned ($0.28) EPS. Analysts forecast that Seanergy Maritime will post 2.18 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 10.88%. The ex-dividend date is Friday, December 27th. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.25. Seanergy Maritime’s dividend payout ratio is 42.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. ORG Partners LLC bought a new stake in Seanergy Maritime during the second quarter worth approximately $191,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Seanergy Maritime in the second quarter worth $213,000. Acadian Asset Management LLC bought a new stake in shares of Seanergy Maritime during the 1st quarter worth $300,000. XTX Topco Ltd grew its stake in Seanergy Maritime by 99.6% in the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock valued at $384,000 after buying an additional 19,401 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Seanergy Maritime by 82.0% in the 1st quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock worth $586,000 after acquiring an additional 30,381 shares during the period. 29.36% of the stock is owned by institutional investors.

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.