Seanergy Maritime (NASDAQ:SHIP) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Seanergy Maritime (NASDAQ:SHIP) announced its quarterly earnings results on Thursday. The shipping company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23, Zacks reports. Seanergy Maritime had a net margin of 10.17% and a return on equity of 5.70%.

Seanergy Maritime Stock Up 4.3%

NASDAQ SHIP traded up $0.38 on Thursday, reaching $9.18. 234,659 shares of the stock traded hands, compared to its average volume of 153,212. Seanergy Maritime has a 12 month low of $4.78 and a 12 month high of $9.25. The company has a market cap of $191.78 million, a price-to-earnings ratio of 12.47 and a beta of 0.70. The company has a fifty day moving average price of $8.43 and a 200-day moving average price of $7.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.37 and a current ratio of 0.39.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Seanergy Maritime in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

Institutional Investors Weigh In On Seanergy Maritime

Several large investors have recently modified their holdings of SHIP. Arrowstreet Capital Limited Partnership raised its stake in Seanergy Maritime by 512.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 86,566 shares of the shipping company’s stock worth $546,000 after buying an additional 72,423 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Seanergy Maritime by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,467 shares of the shipping company’s stock worth $367,000 after acquiring an additional 15,991 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Seanergy Maritime in the 3rd quarter worth $345,000. BNP Paribas Financial Markets lifted its stake in shares of Seanergy Maritime by 12.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 23,781 shares of the shipping company’s stock worth $150,000 after purchasing an additional 2,713 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Seanergy Maritime during the second quarter valued at about $124,000. Institutional investors own 29.36% of the company’s stock.

About Seanergy Maritime

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.