B. Riley Decreases Earnings Estimates for Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) – Investment analysts at B. Riley lowered their FY2024 earnings per share estimates for shares of Seanergy Maritime in a research report issued on Tuesday, January 28th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $2.01 for the year, down from their previous estimate of $2.10. The consensus estimate for Seanergy Maritime’s current full-year earnings is $2.10 per share. B. Riley also issued estimates for Seanergy Maritime’s Q4 2024 earnings at $0.22 EPS.

Seanergy Maritime (NASDAQ:SHIP) last posted its earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million during the quarter, compared to analysts’ expectations of $42.10 million. Seanergy Maritime had a net margin of 28.37% and a return on equity of 19.01%. During the same quarter in the prior year, the firm earned ($0.28) EPS.

Separately, StockNews.com downgraded shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 13th.

Seanergy Maritime Price Performance

Shares of NASDAQ SHIP opened at $6.95 on Wednesday. The stock has a market cap of $143.86 million, a P/E ratio of 2.97 and a beta of 0.65. The firm’s 50-day simple moving average is $7.28 and its 200 day simple moving average is $9.26. Seanergy Maritime has a fifty-two week low of $6.55 and a fifty-two week high of $13.19. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

Hedge Funds Weigh In On Seanergy Maritime

Several large investors have recently made changes to their positions in the business. Quarry LP boosted its holdings in Seanergy Maritime by 77.9% during the third quarter. Quarry LP now owns 3,017 shares of the shipping company’s stock worth $37,000 after buying an additional 1,321 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Seanergy Maritime by 3.7% during the 3rd quarter. XTX Topco Ltd now owns 40,332 shares of the shipping company’s stock valued at $501,000 after acquiring an additional 1,447 shares during the last quarter. R Squared Ltd bought a new stake in shares of Seanergy Maritime during the 4th quarter worth $25,000. Trueblood Wealth Management LLC acquired a new position in shares of Seanergy Maritime in the 4th quarter worth $97,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Seanergy Maritime during the third quarter worth $179,000. Institutional investors own 29.36% of the company’s stock.

Seanergy Maritime Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 14.96%. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 27th. Seanergy Maritime’s dividend payout ratio is presently 44.44%.

About Seanergy Maritime

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.