Seanergy Maritime Holdings Corp (NASDAQ:SHIP) to Issue $0.20 Quarterly Dividend

Seanergy Maritime Holdings Corp (NASDAQ:SHIP) declared a quarterly dividend on Thursday, May 28th. Stockholders of record on Monday, June 29th will be given a dividend of 0.20 per share by the shipping company on Friday, July 10th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, June 29th.

Seanergy Maritime has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Seanergy Maritime to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 55.9%.

Seanergy Maritime Stock Down 4.8%

SHIP stock opened at $14.15 on Friday. The stock has a market capitalization of $295.74 million, a P/E ratio of 14.15 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Seanergy Maritime has a 12 month low of $6.10 and a 12 month high of $16.81. The firm has a 50-day moving average price of $14.46 and a 200-day moving average price of $12.06.

Seanergy Maritime (NASDAQ:SHIP) last posted its earnings results on Thursday, May 28th. The shipping company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.24. The firm had revenue of $42.85 million during the quarter, compared to analysts’ expectations of $42.15 million. Seanergy Maritime had a net margin of 13.08% and a return on equity of 8.35%. As a group, equities research analysts anticipate that Seanergy Maritime will post 1.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHIP. Weiss Ratings reissued a “hold (c-)” rating on shares of Seanergy Maritime in a report on Friday, March 27th. Zacks Research raised Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a research note on Monday, February 9th. B. Riley Financial upped their price objective on Seanergy Maritime from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen raised Seanergy Maritime from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Seanergy Maritime presently has an average rating of “Buy” and an average target price of $17.00.

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.