Announcement • Jul 27
Seanergy Maritime Holdings Corp. to Report Q2, 2026 Results on Jul 30, 2026 Seanergy Maritime Holdings Corp. announced that they will report Q2, 2026 results Pre-Market on Jul 30, 2026 Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €14.30, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Shipping industry in Europe. Total returns to shareholders of 220% over the past three years. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Upcoming Dividend • Jun 25
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 10 July 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.9%). Declared Dividend • Jun 01
First quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 29th June 2026 Payment date: 10th July 2026 Dividend yield will be 4.0%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 31% over the next 3 years. However, it would need to fall by 77% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 28
First quarter 2026 earnings released: EPS: US$0.46 (vs US$0.34 loss in 1Q 2025) First quarter 2026 results: EPS: US$0.46 (up from US$0.34 loss in 1Q 2025). Revenue: US$42.9m (up 77% from 1Q 2025). Net income: US$9.65m (up US$16.5m from 1Q 2025). Profit margin: 23% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 28
Seanergy Maritime Holdings Corp. Announces First Quarter 2026 Dividend, Payable on or About July 10, 2026 Seanergy Maritime Holdings Corp. has declared a quarterly cash dividend of $0.20 per common share for the first quarter of 2026 payable on or about July 10, 2026, to all shareholders of record as of June 29, 2026. Announcement • May 26
Seanergy Maritime Holdings Corp. to Report Q1, 2026 Results on May 28, 2026 Seanergy Maritime Holdings Corp. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 28, 2026 Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent Director John Kartsonas was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 17
Seanergy Maritime Declares Cash Dividend for the Fourth Quarter of 2025, Payable on or About April 10, 2026 Seanergy Maritime Holdings Corp. has declared a quarterly cash dividend of $0.20 per common share for the fourth quarter of 2025 payable on or about April 10, 2026, to all shareholders of record as of March 27, 2026. Announcement • Feb 12
Seanergy Maritime Holdings Corp. to Report Q4, 2025 Results on Feb 17, 2026 Seanergy Maritime Holdings Corp. announced that they will report Q4, 2025 results Pre-Market on Feb 17, 2026 Announcement • Nov 10
Seanergy Maritime Holdings Corp. to Report Q3, 2025 Results on Nov 13, 2025 Seanergy Maritime Holdings Corp. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 13, 2025 Announcement • Sep 26
Seanergy Maritime Holdings Corp., Annual General Meeting, Oct 30, 2025 Seanergy Maritime Holdings Corp., Annual General Meeting, Oct 30, 2025, at 18:00 GTB Standard Time. Location: 154 vouliagmenis avenue, 16674 glyfada., Greece Announcement • Jul 31
Seanergy Maritime Holdings Corp. to Report Q2, 2025 Results on Aug 05, 2025 Seanergy Maritime Holdings Corp. announced that they will report Q2, 2025 results Pre-Market on Aug 05, 2025 Announcement • May 27
Seanergy Maritime Holdings Corp. Declares Cash Dividend for the First Quarter of 2025, Payable on or About July 10, 2025 Seanergy Maritime Holdings Corp. declared a quarterly cash dividend of $0.05 per common share for the first quarter of 2025 payable on or about July 10, 2025, to all shareholders of record as of June 27, 2025. Announcement • May 22
Seanergy Maritime Holdings Corp. to Report Q1, 2025 Results on May 27, 2025 Seanergy Maritime Holdings Corp. announced that they will report Q1, 2025 results Pre-Market on May 27, 2025 Announcement • Mar 06
Seanergy Maritime Holdings Corp. Declares Quarterly Dividend, Payable on or About April 10, 2025 Seanergy Maritime Holdings Corp. declared a quarterly cash dividend of $0.10 per common share for the fourth quarter of 2024 payable on or about April 10, 2025, to all shareholders of record as of March 27, 2025. Announcement • Feb 28
Seanergy Maritime Holdings Corp. to Report Q4, 2024 Results on Mar 06, 2025 Seanergy Maritime Holdings Corp. announced that they will report Q4, 2024 results Pre-Market on Mar 06, 2025 New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risks High level of debt (75% net debt to equity). Dividend is not well covered by cash flows (92% cash payout ratio). Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Declared Dividend • Nov 11
Third quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 27th December 2024 Payment date: 10th January 2025 Dividend yield will be 8.2%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is covered by earnings (1% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to decline by 3.4% over the next year. However, it would need to fall by 99% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 05
Third quarter 2024 earnings released: EPS: US$0.64 (vs US$0.28 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.64 (up from US$0.28 loss in 3Q 2023). Revenue: US$44.4m (up 81% from 3Q 2023). Net income: US$12.5m (up US$17.6m from 3Q 2023). Profit margin: 28% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to grow by 1.0%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Nov 05
Seanergy Maritime Holdings Corp. Declares Cash Dividend for the Third Quarter of 2024, Payable on or About January 10, 2025 Seanergy Maritime Holdings Corp. declared a quarterly cash dividend of $0.26 per common share for the third quarter of 2024 payable on or about January 10, 2025, to all shareholders of record as of December 27, 2024. Announcement • Oct 30
Seanergy Maritime Holdings Corp. to Report Q3, 2024 Results on Nov 05, 2024 Seanergy Maritime Holdings Corp. announced that they will report Q3, 2024 results Pre-Market on Nov 05, 2024 Announcement • Oct 18
Seanergy Maritime Holdings Corp. Issues Statement Regarding Economou’s Litigation Seanergy Maritime Holdings Corp. issued the following statement regarding the attempt by Economou, through his entity Sphinx Investment Corp., to delay Seanergy’s 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”) by filing a motion for a temporary restraining order and preliminary injunction in the High Court of the Republic of the Marshall Islands: The company believe Economou’s last minute attempt to delay the company’s regularly scheduled annual meeting is simply another step to advance his self-interested attempt to gain effective control over the Company’s Board and its corporate strategy. The company is reviewing the motion from Economou and will address it through the Court process. In the meantime, the company intend to move forward as planned with holding 2024 Annual Meeting, which remains scheduled for November 4, 2024, in compliance with bylaws and Nasdaq listing requirements. Announcement • Oct 01
Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 04, 2024 Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 04, 2024, at 17:00 GTB Standard Time. Location: at the offices of watson farley & williams greece, 348 syngrou avenue, 5th floor, building b, kallithea, 176-74, athens Greece Upcoming Dividend • Sep 20
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 10 October 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.9%). Declared Dividend • Aug 12
Second quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 27th September 2024 Payment date: 10th October 2024 Dividend yield will be 5.5%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 77% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$0.72 (vs US$0.033 in 2Q 2023) Second quarter 2024 results: EPS: US$0.72 (up from US$0.033 in 2Q 2023). Revenue: US$43.1m (up 52% from 2Q 2023). Net income: US$14.1m (up US$13.5m from 2Q 2023). Profit margin: 33% (up from 2.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 07
Seanergy Maritime Holdings Corp. Declares Cash Dividend for the Second Quarter of 2024, Payable on or About October 10, 2024 Seanergy Maritime Holdings Corp. has declared a quarterly cash dividend of $0.25 per common share for the second quarter of 2024 payable on or about October 10, 2024, to all shareholders of record as of September 27, 2024. In August 2024, Board of Directors adopted an updated dividend policy, pursuant to which intend to distribute approximately 50% of operating cash flow (the amount presented in Cash Flow Statement for the period in question, incorporating all operating expenses, variations in working capital, interest expenses and amounts paid for drydocking). Announcement • Aug 01
Seanergy Maritime Holdings Corp. to Report Q2, 2024 Results on Aug 06, 2024 Seanergy Maritime Holdings Corp. announced that they will report Q2, 2024 results Pre-Market on Aug 06, 2024 Upcoming Dividend • Jun 18
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 10 July 2024. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.6%). Announcement • Jun 05
Sphinx Investment Corp Issues Statement on Seanergy On June 3, 2024, Sphinx Investment Corp announced that it released a statement in respect of its investment in Seanergy Maritime Holdings Corp. Sphinx stated that it has reviewed the Company’s recent statements to the media and in its May 31 press release. Sphinx Investment stated that it appears to Sphinx Investment that the Company thinks that it can confuse shareholders into forgetting what CEO Stamatis Tsantanis and the independent members of the Company Board of Directors have done to Sphinx Investment by reciting platitudes about good governance and strategic plans. Sphinx Investment stated that 1) the Company Board effectively robbed shareholders of their governance rights by selling 49.99% of its voting power to CEO Tsantanis for a paltry $250,000, at a time when the Company had more than $400 million in assets. This transaction was rubber stamped by Tsantanis’s handpicked Board. This is not an ‘open-minded’ Board that has shown it values good governance or is ‘committed to acting in the best interests of the Company and its shareholders’, 2) the Company states that a proxy fight would be ‘costly’. What would be costly would be allowing this Board to continue to engage in self-dealing with impunity, and 3) the Company has alleged that Economou ‘has not engaged with the Cpmpany meaningfully or articulated any new ideas for the company. The truth is that Tsantanis has refused multiple requests that he speak directly with Economou in order to potentially find a way to fix the economic and governance damage that Tsantanis and the rest of the current Board has and continues to inflict on shareholders. Perhaps Tsantanis is afraid? New Risk • May 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 15% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €11.90, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 77% over the past three years. Declared Dividend • May 20
First quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 25th June 2024 Payment date: 10th July 2024 Dividend yield will be 2.7%, which is lower than the industry average of 15%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 21% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: US$0.53 (vs US$0.23 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.53 (up from US$0.23 loss in 1Q 2023). Revenue: US$38.3m (up 112% from 1Q 2023). Net income: US$10.2m (up US$14.3m from 1Q 2023). Profit margin: 27% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 1.4% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 11
Seanergy Maritime Holdings Corp. to Report Q1, 2024 Results on May 15, 2024 Seanergy Maritime Holdings Corp. announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on May 15, 2024 Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: US$0.12 (vs US$0.97 in FY 2022) Full year 2023 results: EPS: US$0.12 (down from US$0.97 in FY 2022). Revenue: US$110.2m (down 12% from FY 2022). Net income: US$2.28m (down 87% from FY 2022). Profit margin: 2.1% (down from 14% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 1.7% growth forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Dec 17
Seanergy Maritime Holdings Corp. (NasdaqCM:SHIP) announces an Equity Buyback. Seanergy Maritime Holdings Corp. (NasdaqCM:SHIP) announces a share repurchase program. Under the program, the company will repurchase up to $25 million of its outstanding common shares and other securities. The program will expire on December 31, 2025. Announcement • Dec 16
Seanergy Maritime Holdings Corp. has filed a Follow-on Equity Offering in the amount of $30 million. Seanergy Maritime Holdings Corp. has filed a Follow-on Equity Offering in the amount of $30 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Dec 14
George Economou Discloses his Views on Seanergy Maritime Holdings On December 13, 2023, George Economou announced that he has significant concerns regarding the management and oversight of Seanergy Maritime Holdings Corp., including without limitation in connection with the Company’s purported December 2021 issuance to its Chairman and CEO of allegedly super-voting Series B Preferred Stock, which George Economou view involved multiple breaches of fiduciary duties. George Economou added that once the window for such nominations opens, he intends to nominate candidates for election to the board of directors of the Company for each Company board seat that is up for election at the Company’s next annual meeting. Upcoming Dividend • Dec 14
Upcoming dividend of US$0.025 per share at 1.4% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 10 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (21%). New Risk • Nov 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Reported Earnings • Nov 15
Third quarter 2023 earnings released: US$0.28 loss per share (vs US$0.41 profit in 3Q 2022) Third quarter 2023 results: US$0.28 loss per share (down from US$0.41 profit in 3Q 2022). Revenue: US$24.5m (down 28% from 3Q 2022). Net loss: US$5.04m (down 171% from profit in 3Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 2.6% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 15
Seanergy Maritime Holdings Corp. Declares Cash Dividend for the Third Quarter of 2023, Payable on or About January 10, 2024 Seanergy Maritime Holdings Corp. declared a cash dividend of $0.025 per common share for the third quarter of 2023 payable on or about January 10, 2024 to all shareholders of record as of December 22, 2023. Announcement • Nov 10
Seanergy Maritime Holdings Corp. to Report Q3, 2023 Results on Nov 14, 2023 Seanergy Maritime Holdings Corp. announced that they will report Q3, 2023 results Pre-Market on Nov 14, 2023 New Risk • Nov 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €93.6m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Market cap is less than US$100m (€93.6m market cap, or US$99.0m). Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.65, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 56% over the past three years. Announcement • Sep 30
Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 14, 2023 Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 14, 2023, at 18:00 E. Europe Standard Time. Location: Company's executive offices at 154 Vouliagmenis Avenue 16674 Glyfada, Greece Glyfada Greece Agenda: To elect Ms. Christina Anagnostara, as Class B Director to serve until the 2026 Annual Meeting of Shareholders; to approve the appointment of Deloitte Certified Public Accountants S.A. to serve as the Company's independent auditors for the fiscal year ending December 31, 2023; and to transact any other business as may properly come before the Meeting or any adjournment or postponement thereof. Upcoming Dividend • Sep 14
Upcoming dividend of US$0.025 per share at 1.9% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 06 October 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (18%). Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: US$0.034 (vs US$0.34 in 2Q 2022) Second quarter 2023 results: EPS: US$0.034 (down from US$0.34 in 2Q 2022). Revenue: US$28.3m (down 14% from 2Q 2022). Net income: US$626.0k (down 90% from 2Q 2022). Profit margin: 2.2% (down from 18% in 2Q 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 2 years, compared to a 8.4% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Announcement • Aug 03
Seanergy Maritime Holdings Corp. Declares Quarterly Cash Dividend for the Second Quarter of 2023 Payable on or About October 6, 2023 Seanergy Maritime Holdings Corp. declared a cash dividend of $0.025 per common share for the second quarter of 2023 payable on or about October 6, 2023 to all shareholders of record as of September 22, 2023. Announcement • Jul 29
Seanergy Maritime Holdings Corp. to Report Q2, 2023 Results on Aug 02, 2023 Seanergy Maritime Holdings Corp. announced that they will report Q2, 2023 results Pre-Market on Aug 02, 2023 Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €4.48, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Shipping industry in Europe. Total loss to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.02 per share. Buying Opportunity • Jun 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be €4.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.2% in a year. Earnings is forecast to decline by 26% in the next year. Upcoming Dividend • Jun 14
Upcoming dividend of US$0.025 per share at 2.3% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 06 July 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (18%). Buying Opportunity • Jun 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be €4.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.2% in a year. Earnings is forecast to decline by 26% in the next year. Reported Earnings • May 26
First quarter 2023 earnings released: US$0.23 loss per share (vs US$0.21 profit in 1Q 2022) First quarter 2023 results: US$0.23 loss per share (down from US$0.21 profit in 1Q 2022). Revenue: US$18.0m (down 39% from 1Q 2022). Net loss: US$4.19m (down 214% from profit in 1Q 2022). Revenue is forecast to stay flat during the next 2 years compared to a 1.1% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 149% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • May 23
Seanergy Maritime Holdings Corp. to Report Q1, 2023 Results on May 25, 2023 Seanergy Maritime Holdings Corp. announced that they will report Q1, 2023 results Pre-Market on May 25, 2023 Buying Opportunity • Apr 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €5.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 84% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.15, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Shipping industry in Europe. Total loss to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.57 per share. Recent Insider Transactions • Apr 04
Chairman & CEO recently bought €498k worth of stock On the 30th of March, Stamatios Tsantanis bought around 100k shares on-market at roughly €4.98 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stamatios' only on-market trade for the last 12 months. Buying Opportunity • Apr 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 6.0%. The fair value is estimated to be €5.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 7.7% in 2 years. Earnings is forecast to decline by 84% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of US$0.025 per share at 1.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 25 April 2023. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (14%). Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: US$0.98 (vs US$2.70 in FY 2021) Full year 2022 results: EPS: US$0.98 (down from US$2.70 in FY 2021). Revenue: US$125.0m (down 18% from FY 2021). Net income: US$17.2m (down 58% from FY 2021). Profit margin: 14% (down from 27% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 3.9% p.a. on average during the next 2 years compared to a 11% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 147% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €6.29, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Shipping industry in Europe. Total loss to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.62 per share. Upcoming Dividend • Dec 20
Upcoming dividend of US$0.025 per share Eligible shareholders must have bought the stock before 27 December 2022. Payment date: 30 January 2023. Trailing yield: 20%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (12%). Reported Earnings • Dec 02
Third quarter 2022 earnings released: EPS: US$0.041 (vs US$0.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.041 (down from US$0.12 in 3Q 2021). Revenue: US$34.0m (down 30% from 3Q 2021). Net income: US$7.14m (down 64% from 3Q 2021). Profit margin: 21% (down from 42% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 4.2% p.a. on average during the next 2 years compared to a 14% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 148% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Announcement • Dec 01
Seanergy Maritime Holdings Corp. Declares Cash Dividend, Payable on or About January 30, 2023 Seanergy Maritime Holdings Corp. declared a cash dividend of $0.025 per share for the third quarter of 2022 payable on or about January 30, 2023 to the shareholders of record as of December 28, 2022. Announcement • Nov 26
Seanergy Maritime Holdings Corp. to Report Q3, 2022 Results on Nov 30, 2022 Seanergy Maritime Holdings Corp. announced that they will report Q3, 2022 results After-Market on Nov 30, 2022 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director John Kartsonas was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 09
Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 09, 2022 Seanergy Maritime Holdings Corp., Annual General Meeting, Nov 09, 2022, at 18:00 E. Europe Standard Time. Location: Company’s executive offices at 154 Vouliagmenis Avenue, 16674 Glyfada, Glyfada Greece Agenda: To elect Messrs. Stamatios Tsantanis and Elias Culucundis, as Class A Directors to serve until the 2025 Annual Meeting of Shareholders; to approve the appointment of Deloitte Certified Public Accountants S.A. to serve as the Company’s independent auditors for the fiscal year ending December 31, 2022; and to transact any other business as may properly come before the Meeting or any adjournment or postponement thereof. Upcoming Dividend • Sep 15
Upcoming dividend of US$0.025 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 11 October 2022. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 17%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (12%). Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0.034 (vs US$0.012 in 2Q 2021) Second quarter 2022 results: EPS: US$0.034 (up from US$0.012 in 2Q 2021). Revenue: US$32.8m (up 18% from 2Q 2021). Net income: US$5.94m (up 203% from 2Q 2021). Profit margin: 18% (up from 7.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 9.2% compared to a 4.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 154% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Announcement • Aug 05
Seanergy Maritime Holdings Corp. Declares Cash Dividend for the Second Quarter of 2022, Payable on or About October 11, 2022 Seanergy Maritime Holdings Corp. declared a cash dividend of $0.025 per share for the second quarter of 2022 payable on or about October 11, 2022 to the shareholders of record as of September 25, 2022. Announcement • Aug 03
Seanergy Maritime Announces Receipt of Nasdaq Notice Regarding Minimum Bid Price Requirement Seanergy Maritime Holdings Corp. announced that it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated August 1, 2022, indicating that because the closing bid price of the Company’s common stock for 30 consecutive business days, from June 16, 2022 to July 29, 2022, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until January 30, 2023. The Company intends to monitor the closing bid price of its common stock between now and January 30, 2023 and is considering its options in order to regain compliance with the Nasdaq Capital Market minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for a minimum of ten consecutive business days during the grace period. In the event the Company does not regain compliance within the 180-day grace period and it meets all other listing standards and requirements, the Company may be eligible for an additional 180-day grace period. Announcement • Jul 29
Seanergy Maritime Holdings Corp. to Report Q2, 2022 Results on Aug 04, 2022 Seanergy Maritime Holdings Corp. announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Aug 04, 2022 Announcement • Jun 30
Seanergy Maritime Holdings Corp. (NasdaqCM:SHIP) announces an Equity Buyback. Seanergy Maritime Holdings Corp. (NasdaqCM:SHIP) announces a share repurchase program. Under the program, the company will repurchase up to $5 million of its outstanding common shares, convertible notes or warrants. The program will expire on December 31, 2023. Upcoming Dividend • Jun 20
Upcoming dividend of US$0.025 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 14 July 2022. Trailing yield: 10%. Within top quartile of German dividend payers (4.5%). In line with average of industry peers (11%). Buying Opportunity • Jun 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €1.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 4.4% in a year. Earnings is forecast to grow by 35% in the next year. Reported Earnings • Jun 01
First quarter 2022 earnings released: EPS: US$0.021 (vs US$0.012 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.021 (up from US$0.012 loss in 1Q 2021). Revenue: US$29.7m (up 45% from 1Q 2021). Net income: US$3.67m (up US$4.99m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 4.2%, compared to a 5.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 149% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Announcement • May 27
Seanergy Maritime Holdings Corp. to Report Q1, 2022 Results on May 31, 2022 Seanergy Maritime Holdings Corp. announced that they will report Q1, 2022 results Pre-Market on May 31, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director John Kartsonas was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 13
Now 22% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be €1.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 83% in the next 2 years. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.27 (up from US$0.55 loss in FY 2020). Revenue: US$153.1m (up 142% from FY 2020). Net income: US$41.3m (up US$59.7m from FY 2020). Profit margin: 27% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 18% growth forecast for the industry in Germany. Announcement • Mar 06
Seanergy Maritime Holdings Corp. to Report Q4, 2021 Results on Mar 10, 2022 Seanergy Maritime Holdings Corp. announced that they will report Q4, 2021 results Pre-Market on Mar 10, 2022 
