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 research note issued to investors on Wednesday.

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

Seanergy Maritime Stock Down 0.3 %

SHIP opened at $9.04 on Wednesday. Seanergy Maritime has a 12 month low of $5.29 and a 12 month high of $13.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.52. The stock has a market cap of $187.13 million, a P/E ratio of 3.86 and a beta of 0.65. The stock’s 50 day moving average price is $10.51 and its 200 day moving average price is $10.61.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. Seanergy Maritime had a return on equity of 19.01% and a net margin of 28.37%. The company had revenue of $44.36 million for the quarter, compared to analysts’ expectations of $42.10 million. During the same period last year, the firm earned ($0.28) EPS. As a group, research analysts predict that Seanergy Maritime will post 2.1 earnings per share for the current year.

Seanergy Maritime Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Seanergy Maritime’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 11.50%. Seanergy Maritime’s dividend payout ratio (DPR) is currently 42.74%.

Institutional Investors Weigh In On Seanergy Maritime

Several large investors have recently modified their holdings of SHIP. Millennium Management LLC boosted its position in shares of Seanergy Maritime by 193.6% in the second 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 during the period. Cubist Systematic Strategies LLC boosted its position in shares of Seanergy Maritime by 217.9% in the second quarter. Cubist Systematic Strategies LLC now owns 126,976 shares of the shipping company’s stock worth $1,253,000 after buying an additional 87,028 shares during the period. Marshall Wace LLP boosted its position in shares of Seanergy Maritime by 316.2% in the second quarter. Marshall Wace LLP now owns 213,503 shares of the shipping company’s stock worth $2,107,000 after buying an additional 162,201 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Seanergy Maritime in the first quarter worth $300,000. Finally, Renaissance Technologies LLC boosted its position in shares of Seanergy Maritime by 33.2% in the second quarter. Renaissance Technologies LLC now owns 635,600 shares of the shipping company’s stock worth $6,273,000 after buying an additional 158,400 shares during the period. 29.36% of the stock is owned by institutional investors.

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.