Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) Raises Dividend to $0.26 Per Share

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.26 per share by the shipping company on Friday, January 10th. This represents a $1.04 annualized dividend and a dividend yield of 10.72%. The ex-dividend date is Friday, December 27th. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.25.

Seanergy Maritime has a dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seanergy Maritime to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 44.2%.

Seanergy Maritime Trading Down 1.0 %

NASDAQ SHIP traded down $0.10 on Wednesday, hitting $9.70. 136,196 shares of the stock were exchanged, compared to its average volume of 247,760. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 0.55. Seanergy Maritime has a 52-week low of $4.87 and a 52-week high of $13.19. The firm has a market capitalization of $200.79 million, a P/E ratio of 6.71 and a beta of 0.65. The stock has a fifty day moving average price of $10.79 and a two-hundred day moving average price of $10.64.

Seanergy Maritime (NASDAQ:SHIP) last issued its quarterly earnings results on Tuesday, November 5th. The shipping company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $44.36 million for the quarter, compared to the consensus estimate of $42.10 million. Seanergy Maritime had a return on equity of 12.42% and a net margin of 20.12%. During the same period in the prior year, the business posted ($0.28) earnings per share. Research analysts forecast that Seanergy Maritime will post 2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

SHIP has been the topic of a number of recent research reports. StockNews.com downgraded shares of Seanergy Maritime from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Noble Financial upgraded shares of Seanergy Maritime to a “strong-buy” rating in a report on Tuesday, July 23rd.

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.