B. Riley Predicts Reduced Earnings for Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) – Stock analysts at B. Riley lowered their FY2024 earnings per share estimates for Seanergy Maritime in a research note issued to investors 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 forecast 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 quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.54 by $0.07. The company had revenue of $44.36 million during the quarter, compared to analysts’ expectations of $42.10 million. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. During the same quarter in the previous year, the business earned ($0.28) EPS.

Separately, StockNews.com cut 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

Seanergy Maritime stock opened at $6.95 on Wednesday. Seanergy Maritime has a 1 year low of $6.55 and a 1 year high of $13.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 1.99. The firm has a 50 day moving average price of $7.28 and a 200 day moving average price of $9.26. The company has a market cap of $143.86 million, a price-to-earnings ratio of 2.97 and a beta of 0.65.

Seanergy Maritime Increases Dividend

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

Institutional Investors Weigh In On Seanergy Maritime

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings 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 buying an additional 236,941 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Seanergy Maritime by 217.9% in the second 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 last quarter. Marshall Wace LLP grew its stake in 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 purchasing an additional 162,201 shares in the last quarter. MML Investors Services LLC acquired a new position in shares of Seanergy Maritime in the 3rd quarter valued at approximately $383,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Seanergy Maritime during the 2nd quarter valued at approximately $213,000. 29.36% of the stock is 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.