Seanergy Maritime Holdings Corp. Announces Quarterly Dividend of $0.03 (NASDAQ:SHIP)

Seanergy Maritime Holdings Corp. (NASDAQ:SHIP – Get Rating) announced a quarterly dividend on Thursday, May 25th, Zacks reports. Investors of record on Thursday, June 22nd will be paid a dividend of 0.025 per share by the shipping company on Thursday, July 6th. This represents a $0.10 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Wednesday, June 21st.

Seanergy Maritime has a payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Seanergy Maritime to earn $0.27 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 370.4%.

Seanergy Maritime Stock Performance

Shares of Seanergy Maritime stock opened at $4.13 on Friday. The stock has a market cap of $75.12 million, a price-to-earnings ratio of 4.44 and a beta of 0.49. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.89. Seanergy Maritime has a twelve month low of $4.11 and a twelve month high of $12.30. The company’s fifty day moving average is $4.92 and its 200 day moving average is $2.87.

Seanergy Maritime (NASDAQ:SHIP – Get Rating) last released its earnings results on Tuesday, March 14th. The shipping company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $28.53 million for the quarter. Seanergy Maritime had a net margin of 13.79% and a return on equity of 7.78%. Sell-side analysts forecast that Seanergy Maritime will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Seanergy Maritime

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of Seanergy Maritime by 290.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,827,275 shares of the shipping company’s stock worth $3,223,000 after acquiring an additional 2,103,300 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of Seanergy Maritime in the 1st quarter worth about $473,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Seanergy Maritime in the 1st quarter worth about $459,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Seanergy Maritime in the 4th quarter worth about $364,000. Finally, State Street Corp raised its holdings in shares of Seanergy Maritime by 106.3% in the 1st quarter. State Street Corp now owns 171,130 shares of the shipping company’s stock worth $204,000 after acquiring an additional 88,179 shares during the last quarter. Institutional investors and hedge funds own 1.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TheStreet lowered shares of Seanergy Maritime from a “c” rating to a “d+” rating in a report on Wednesday, March 15th. StockNews.com started coverage on shares of Seanergy Maritime in a report on Thursday, May 18th. They set a “sell” rating on the stock.

About Seanergy Maritime

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Seanergy Maritime Holdings Corp. is an international shipping company, which engages in the seaborne transportation of dry bulk commodities. It focuses on the owning and management of a fleet of Capesize bulk carriers. The company was founded on January 4, 2008 and is headquartered in Athens, Greece.