Seanergy Maritime Holdings Corp (SHIP) Stock Slides as Market Rises: Facts to Know Before You Trade

Zacks
2024-10-29

Seanergy Maritime Holdings Corp (SHIP) ended the recent trading session at $9.62, demonstrating a -1.33% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.

The company's shares have seen a decrease of 19.29% over the last month, not keeping up with the Transportation sector's loss of 1.57% and the S&P 500's gain of 2%.

The upcoming earnings release of Seanergy Maritime Holdings Corp will be of great interest to investors. In that report, analysts expect Seanergy Maritime Holdings Corp to post earnings of $0.62 per share. This would mark year-over-year growth of 542.86%. Our most recent consensus estimate is calling for quarterly revenue of $42.1 million, up 72.2% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.49 per share and a revenue of $164.31 million, representing changes of +289.06% and +49.05%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Seanergy Maritime Holdings Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.05% higher within the past month. Seanergy Maritime Holdings Corp is currently a Zacks Rank #3 (Hold).

Looking at valuation, Seanergy Maritime Holdings Corp is presently trading at a Forward P/E ratio of 3.92. This valuation marks a discount compared to its industry's average Forward P/E of 7.66.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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