Seanergy Maritime (NASDAQ:SHIP) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts have also recently weighed in on the stock. Noble Financial raised shares of Seanergy Maritime to a strong-buy rating in a research report on Tuesday, July 23rd. B. Riley lifted their target price on shares of Seanergy Maritime from $11.00 to $13.00 and gave the company a buy rating in a report on Wednesday, April 10th.

Seanergy Maritime Trading Up 2.7 %

SHIP stock opened at $10.22 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.36 and a debt-to-equity ratio of 0.93. The company has a market cap of $200.68 million, a price-to-earnings ratio of 12.78 and a beta of 0.61. The business has a fifty day simple moving average of $10.35 and a 200-day simple moving average of $9.47. Seanergy Maritime has a 52 week low of $4.87 and a 52 week high of $13.19.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Tuesday, August 6th. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.54 by $0.14. The company had revenue of $43.13 million during the quarter, compared to analyst estimates of $40.69 million. Seanergy Maritime had a return on equity of 7.06% and a net margin of 12.06%. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts expect that Seanergy Maritime will post 1.55 EPS for the current year.

Seanergy Maritime Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.03. This represents a $1.00 annualized dividend and a yield of 9.78%. Seanergy Maritime’s payout ratio is 12.50%.

Institutional Trading of Seanergy Maritime

A number of hedge funds have recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Seanergy Maritime during the 2nd quarter valued at $191,000. Jump Financial LLC acquired a new stake in shares of Seanergy Maritime during the fourth quarter valued at about $225,000. Quadrature Capital Ltd increased its position in shares of Seanergy Maritime by 82.0% during the first quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock worth $586,000 after acquiring an additional 30,381 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Seanergy Maritime in the first quarter worth about $300,000. Finally, Mackenzie Financial Corp boosted its holdings in Seanergy Maritime by 313.4% in the fourth quarter. Mackenzie Financial Corp now owns 197,129 shares of the shipping company’s stock valued at $1,544,000 after purchasing an additional 149,439 shares during the last quarter. Hedge funds and other institutional investors own 29.36% of the company’s stock.

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.