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

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

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

Seanergy Maritime Price Performance

SHIP stock opened at $9.61 on Tuesday. The business’s fifty day moving average price is $10.72 and its 200 day moving average price is $10.62. Seanergy Maritime has a 12-month low of $4.87 and a 12-month high of $13.19. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $198.93 million, a PE ratio of 6.63 and a beta of 0.65.

Seanergy Maritime (NASDAQ:SHIP) last released its earnings results 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 company had revenue of $44.36 million during the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. During the same period in the previous year, the company posted ($0.28) EPS. On average, sell-side analysts anticipate that Seanergy Maritime will post 2.18 EPS for the current year.

Seanergy Maritime Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.82%. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, December 27th. Seanergy Maritime’s dividend payout ratio is presently 68.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in shares of Seanergy Maritime during the 2nd quarter worth $191,000. XTX Topco Ltd lifted its holdings in Seanergy Maritime by 99.6% during the 2nd quarter. XTX Topco Ltd now owns 38,885 shares of the shipping company’s stock worth $384,000 after buying an additional 19,401 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Seanergy Maritime during the 2nd quarter worth about $213,000. Quadrature Capital Ltd increased its holdings in shares of Seanergy Maritime by 82.0% in the 1st quarter. Quadrature Capital Ltd now owns 67,427 shares of the shipping company’s stock valued at $586,000 after acquiring an additional 30,381 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Seanergy Maritime during the 1st quarter worth about $300,000. Hedge funds and other 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.