Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Raises Dividend to $0.25 Per Share

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.25 per share by the shipping company on Thursday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date is Friday, September 27th. This is an increase from Seanergy Maritime’s previous quarterly dividend of $0.03.

Seanergy Maritime has a payout ratio of 4.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Seanergy Maritime to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.8%.

Seanergy Maritime Stock Performance

SHIP traded up $0.01 on Wednesday, reaching $10.00. 48,942 shares of the stock were exchanged, compared to its average volume of 251,649. The company’s 50-day moving average price is $10.43 and its 200 day moving average price is $9.46. The firm has a market capitalization of $207 million, a PE ratio of 12.64 and a beta of 0.61. Seanergy Maritime has a fifty-two week low of $4.87 and a fifty-two week high of $13.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.36 and a quick ratio of 0.34.

Seanergy Maritime (NASDAQ:SHIP) last issued its earnings results on Tuesday, August 6th. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.14. Seanergy Maritime had a return on equity of 7.06% and a net margin of 12.06%. The business had revenue of $43.13 million for the quarter, compared to analysts’ expectations of $40.69 million. During the same period in the previous year, the firm posted $0.05 EPS. As a group, sell-side analysts forecast that Seanergy Maritime will post 1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Noble Financial upgraded Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, B. Riley raised their price target on Seanergy Maritime from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th.

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.