Seanergy Maritime (NASDAQ:SHIP) Lowered to “Buy” at StockNews.com

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

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

Seanergy Maritime Stock Performance

NASDAQ SHIP traded up $0.22 on Tuesday, hitting $11.34. 25,490 shares of the stock were exchanged, compared to its average volume of 251,443. The company has a market capitalization of $234.74 million, a PE ratio of 13.90 and a beta of 0.61. 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 business’s fifty day moving average is $10.20 and its 200 day moving average is $9.57. Seanergy Maritime has a 52 week low of $4.87 and a 52 week high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Tuesday, August 6th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.14. The business had revenue of $43.13 million during the quarter, compared to the consensus estimate of $40.69 million. Seanergy Maritime had a net margin of 20.12% and a return on equity of 12.77%. During the same period last year, the business posted $0.05 EPS. Research analysts anticipate that Seanergy Maritime will post 1.55 EPS for the current fiscal year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.82%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.03. Seanergy Maritime’s dividend payout ratio (DPR) is currently 12.50%.

Hedge Funds Weigh In On Seanergy Maritime

Several institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp grew its position in shares of Seanergy Maritime by 313.4% during the 4th quarter. Mackenzie Financial Corp now owns 197,129 shares of the shipping company’s stock worth $1,544,000 after purchasing an additional 149,439 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Seanergy Maritime in the fourth quarter valued at approximately $290,000. Acadian Asset Management LLC acquired a new stake in Seanergy Maritime during the first quarter worth approximately $300,000. Jump Financial LLC bought a new position in Seanergy Maritime during the 4th quarter worth $225,000. Finally, ORG Partners LLC acquired a new position in Seanergy Maritime in the 2nd quarter valued at $191,000. 29.36% of the stock is currently owned by institutional investors and hedge funds.

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.