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

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders 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 10.69%. 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 Stock Down 0.7 %

Shares of NASDAQ SHIP traded down $0.07 during midday trading on Wednesday, reaching $9.73. The company’s stock had a trading volume of 101,848 shares, compared to its average volume of 247,601. The stock has a 50 day simple moving average of $10.79 and a 200-day simple moving average of $10.64. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. Seanergy Maritime has a fifty-two week low of $4.87 and a fifty-two week high of $13.19. The stock has a market capitalization of $201.41 million, a price-to-earnings ratio of 6.76 and a beta of 0.65.

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

Analysts Set New Price Targets

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