Seanergy Maritime Hl Down 1.58% To $6.03 After Earnings Beat

Tuesday, March 14, 2023 - Seanergy Maritime Hl (SHIP) reported upside earnings and revenues today.

The consensus among analysts for Seanergy Maritime Hl was for an earnings per share (EPS) loss of $0.14 per share. The firm was able to surpass those projections, reporting an EPS of $0.05, a positive surprise of $0.19 (136%). Profits fell 96% year-over-year after reporting an EPS of $1.40 in its year-ago quarter. The negative growth rate signals that the Industrials company isn't performing well amid current economic conditions.

Analyst projections for Seanergy Maritime Hl revenue came in at a consensus of $26.7 million. Fourth-Quarter revenues surpassed estimates for $28.5 million by $1.8 million (7%). The company achieved negative 50% growth year-over-year compared to the firm's revenue of $56.7 million from the year-ago quarter. The lower earnings growth relative to revenue signals Seanergy Maritime Hl has not been able to improve its profit margin.

The stock is down 1.58% to $6.03 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Seanergy Maritime Hl a Bearish Sentiment Rank from InvestorsObserver.

Seanergy Maritime Hl has performed a little above average during the past few months. Before the report, Seanergy Maritime Hl received a Long-Term Technical Rank by InvestorsObserver of 72, putting it in the top half of stocks. The firm set a 52-week low on October 31, 2022 at $4.4 and set a 52-week high on March 14, 2022 at $12.71.

Seanergy Maritime Holdings Corp is an international shipping company that provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. It generates a majority of its revenue from the vessels. The company fleet of vessels includes Fellowship, Championship, Partnership, Knightship, Lordship, Gloriuship, Leadership, Geniuship, Premiership, and Squireship among others.