Seanergy Q2 Revenue Hits Record $55.7M, Declares 19th Straight Dividend
SHIP has more than doubled off its 52-week low of $7.005.
Summary
Seanergy Maritime posted record Q2 net revenue of $55.7M, up 48% YoY, with net income surging to $26.2M from $2.9M a year ago. TCE rates jumped 63% to $32,355/day, driven by strong Capesize demand. The company declared its 19th consecutive quarterly dividend at $0.35/share, exceeding analyst expectations. The €100M bond offering and a $60M sale/leaseback for a newbuild provide growth capital. B. Riley raised its price target to $25, citing the shareholder-friendly funding. This follows a strong Q1 and the bond pricing in July, reinforcing the earnings momentum.
At the time of this announcement, SHIP was trading at $17.21 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $364.5M. The 52-week trading range was $7.01 to $18.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: EQS.