Seanergy Maritime (NASDAQ:SHIP) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Seanergy Maritime (NASDAQ:SHIP) released its quarterly earnings data on Tuesday. The shipping company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14, Zacks reports. Seanergy Maritime had a return on equity of 5.71% and a net margin of 9.93%.

Seanergy Maritime Trading Up 10.2%

Seanergy Maritime stock traded up $1.17 during trading hours on Tuesday, reaching $12.68. 296,309 shares of the company’s stock were exchanged, compared to its average volume of 152,266. The firm’s 50 day simple moving average is $9.93 and its 200 day simple moving average is $9.01. Seanergy Maritime has a twelve month low of $4.78 and a twelve month high of $12.82. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $265.01 million, a PE ratio of 17.36 and a beta of 0.88.

Analyst Ratings Changes

SHIP has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seanergy Maritime in a report on Monday, December 29th. Zacks Research upgraded Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Wall Street Zen raised Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Noble Financial reiterated an “outperform” rating on shares of Seanergy Maritime in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Institutional Trading of Seanergy Maritime

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Seanergy Maritime during the 2nd quarter worth approximately $124,000. Virtu Financial LLC bought a new position in Seanergy Maritime during the 3rd quarter worth approximately $134,000. Centiva Capital LP purchased a new position in shares of Seanergy Maritime in the third quarter worth $139,000. BNP Paribas Financial Markets raised its stake in shares of Seanergy Maritime by 12.9% during the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 2,713 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Seanergy Maritime by 23,120.0% during the 3rd quarter. Bank of America Corp DE now owns 23,220 shares of the shipping company’s stock valued at $192,000 after purchasing an additional 23,120 shares during the last quarter. Institutional investors and hedge funds own 29.36% of the company’s stock.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company’s operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials.

The company’s core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes.