Seanergy Maritime Holdings Corp (SHIP) To Go Ex-Dividend on September 25th

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.35 per share by the shipping company on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, September 25th. This is a 75.0% increase from Seanergy Maritime’s previous quarterly dividend of $0.20.

Seanergy Maritime has a payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 89.2%.

Seanergy Maritime Stock Down 3.9%

Shares of NASDAQ SHIP opened at $17.83 on Wednesday. Seanergy Maritime has a 12 month low of $7.66 and a 12 month high of $19.22. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.94. The company has a market cap of $372.65 million, a price-to-earnings ratio of 6.23 and a beta of 0.89. The stock has a 50-day moving average price of $17.18 and a two-hundred day moving average price of $15.43.

Seanergy Maritime (NASDAQ:SHIP) last announced its quarterly earnings results on Thursday, July 30th. The shipping company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. The firm had revenue of $55.69 million for the quarter, compared to analyst estimates of $53.90 million. Seanergy Maritime had a return on equity of 21.87% and a net margin of 30.68%. As a group, analysts forecast that Seanergy Maritime will post 3.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHIP. Zacks Research upgraded shares of Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. B. Riley Financial increased their price objective on shares of Seanergy Maritime from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Seanergy Maritime from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $25.00.

Seanergy Maritime Company Profile

Seanergy Maritime Holdings Corp. is an international dry bulk shipping company listed on the Nasdaq Capital Market under the symbol SHIP. The company owns and operates oceangoing vessels that transport major dry bulk commodities for industrial and commercial customers worldwide.

Seanergy’s fleet is focused primarily on Capesize and Newcastlemax vessels, which are among the largest dry bulk ships and are commonly used to carry iron ore, coal, and grain. The company generates revenue by chartering its vessels to customers and shipping counterparties under various types of charter arrangements.

Founded in 2008, Seanergy is headquartered in Athens, Greece, and serves global trade routes connecting major commodity-exporting and importing regions.