Seanergy Maritime (NASDAQ:SHIP) Price Target Raised to $17.00
by Mitch Edgeman · The Markets DailySeanergy Maritime (NASDAQ:SHIP – Free Report) had its price target raised by B. Riley Financial from $15.00 to $17.00 in a research note published on Wednesday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the shipping company’s stock.
SHIP has been the topic of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Seanergy Maritime in a research report on Monday, December 29th. Wall Street Zen raised shares of Seanergy Maritime from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Noble Financial reaffirmed an “outperform” rating on shares of Seanergy Maritime in a report on Monday, February 9th. Finally, Zacks Research upgraded Seanergy Maritime from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Seanergy Maritime presently has a consensus rating of “Buy” and a consensus price target of $17.00.
Get Our Latest Stock Report on Seanergy Maritime
Seanergy Maritime Stock Up 1.5%
SHIP opened at $13.81 on Wednesday. The firm has a market cap of $288.63 million, a price-to-earnings ratio of 13.81 and a beta of 0.89. Seanergy Maritime has a twelve month low of $4.78 and a twelve month high of $13.88. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.37 and a current ratio of 0.39. The firm’s 50-day simple moving average is $10.20 and its 200-day simple moving average is $9.16.
Seanergy Maritime Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.20 per share. This is a boost from Seanergy Maritime’s previous quarterly dividend of $0.13. This represents a $0.80 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, March 27th. Seanergy Maritime’s dividend payout ratio is presently 71.23%.
Institutional Investors Weigh In On Seanergy Maritime
Several large investors have recently made changes to their positions in SHIP. Russell Investments Group Ltd. acquired a new stake in shares of Seanergy Maritime during the fourth quarter worth $41,000. Allworth Financial LP bought a new position in Seanergy Maritime during the 3rd quarter worth about $85,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Seanergy Maritime in the 2nd quarter valued at about $90,000. Truist Financial Corp bought a new stake in shares of Seanergy Maritime in the fourth quarter valued at about $113,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Seanergy Maritime in the fourth quarter valued at about $119,000. Institutional investors own 29.36% of the company’s stock.
About Seanergy Maritime
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.