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

Seanergy Maritime (NASDAQ:SHIP) released its quarterly earnings data on Tuesday. The shipping company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 10.1%

NASDAQ:SHIP traded up $1.16 on Tuesday, reaching $12.67. The company’s stock had a trading volume of 243,872 shares, compared to its average volume of 155,177. Seanergy Maritime has a 12-month low of $4.78 and a 12-month high of $12.82. The stock has a 50 day moving average price of $9.93 and a 200 day moving average price of $9.01. The firm has a market cap of $264.82 million, a price-to-earnings ratio of 17.41 and a beta of 0.88. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 1.06.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Seanergy Maritime

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHIP. Jane Street Group LLC acquired a new position in Seanergy Maritime during the 2nd quarter worth approximately $124,000. Virtu Financial LLC acquired a new position in shares of Seanergy Maritime during the third quarter worth $134,000. Centiva Capital LP purchased a new position in Seanergy Maritime in the third quarter valued at $139,000. BNP Paribas Financial Markets raised its stake in Seanergy Maritime by 12.9% in the second quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock valued at $150,000 after buying an additional 2,713 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings 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 worth $192,000 after buying an additional 23,120 shares during the last quarter. Hedge funds and other institutional investors 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.