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 report report published on Wednesday.

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

Seanergy Maritime Stock Down 0.3 %

SHIP stock opened at $9.04 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The business’s 50-day simple moving average is $10.51 and its 200 day simple moving average is $10.61. The company has a market cap of $187.13 million, a PE ratio of 3.86 and a beta of 0.65. Seanergy Maritime has a twelve month low of $5.29 and a twelve month high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, research analysts anticipate that Seanergy Maritime will post 2.1 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.26 dividend. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 11.50%. The ex-dividend date of this dividend is Friday, December 27th. Seanergy Maritime’s payout ratio is presently 42.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Seanergy Maritime by 33.2% in the 2nd quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock worth $6,273,000 after purchasing an additional 158,400 shares during the last quarter. Walleye Capital LLC raised its position in Seanergy Maritime by 8.4% in the 3rd quarter. Walleye Capital LLC now owns 480,336 shares of the shipping company’s stock worth $5,966,000 after purchasing an additional 37,288 shares during the last quarter. Acadian Asset Management LLC raised its position in Seanergy Maritime by 1,009.6% in the 2nd quarter. Acadian Asset Management LLC now owns 384,373 shares of the shipping company’s stock worth $3,782,000 after purchasing an additional 349,733 shares during the last quarter. Millennium Management LLC raised its position in Seanergy Maritime by 193.6% in the 2nd quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock worth $3,547,000 after purchasing an additional 236,941 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Seanergy Maritime by 316.2% during the 2nd quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock valued at $2,107,000 after acquiring an additional 162,201 shares during the last quarter. Institutional investors own 29.36% of the company’s stock.

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.