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

StockNews.com cut shares of Seanergy Maritime (NASDAQ:SHIP) from a strong-buy rating to a buy rating in a report published on Wednesday.

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

Seanergy Maritime Stock Performance

Shares of Seanergy Maritime stock opened at $9.04 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. Seanergy Maritime has a 1 year low of $5.29 and a 1 year high of $13.19. The firm’s 50-day simple moving average is $10.51 and its 200-day simple moving average is $10.62. The firm has a market cap of $187.13 million, a PE ratio of 3.86 and a beta of 0.65.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings data on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million during the quarter, compared to analyst estimates 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 company earned ($0.28) earnings per share. Equities analysts forecast that Seanergy Maritime will post 2.1 earnings per share for the current fiscal year.

Seanergy Maritime Increases Dividend

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

Hedge Funds Weigh In On Seanergy Maritime

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in shares of Seanergy Maritime by 193.6% during the second quarter. Millennium Management LLC now owns 359,347 shares of the shipping company’s stock worth $3,547,000 after acquiring an additional 236,941 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Seanergy Maritime by 217.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company’s stock valued at $1,253,000 after purchasing an additional 87,028 shares during the period. Marshall Wace LLP grew its position in Seanergy Maritime by 316.2% in the 2nd quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after purchasing an additional 162,201 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Seanergy Maritime in the first quarter valued at approximately $300,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Seanergy Maritime by 33.2% during the second quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock valued at $6,273,000 after buying an additional 158,400 shares during the last quarter. 29.36% of the stock is owned by institutional investors.

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.