Seanergy Maritime Holdings Corp (SHIP) shares rallied 6.8% in the last trading session to close at $6.76. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.3% loss over the past four weeks.
Shares of Seanergy Maritime Holdings have gained 7% so far this month. The stock has been buoyed by the Baltic Exchange's dry bulk sea freight index stabilization. Gains in the Panamax and Supramax segments have combated the decline in Capesize rates. Moreover, with the seasonally weak first quarter over, Seanergy Maritime's profitability and cash generation should improve meaningfully.
Management is also optimistic about Capesize market prospects for the remainder of 2025. These factors should aid the company going forward.
This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -88.3%. Revenues are expected to be $35.13 million, down 18.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Seanergy Maritime Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SHIP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Seanergy Maritime Holdings belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Genco Shipping & Trading (GNK), closed the last trading session 5.8% higher at $14.71. Over the past month, GNK has returned %.
For Genco Shipping, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. This represents a change of -128.3% from what the company reported a year ago. Genco Shipping currently has a Zacks Rank of #3 (Hold).
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Seanergy Maritime Holdings Corp (SHIP): Free Stock Analysis Report Genco Shipping & Trading Limited (GNK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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