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Seanergy Maritime Holdings (SHIP) Stock Jumps 6.8%: Will It Continue to Soar?
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Seanergy Maritime Holdings Corp (SHIP - Free Report) shares ended the last trading session 6.8% higher at $8.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
Shares of dry bulk shipper Seanergy Maritime Holdings have gained 41% over the past six months driven by the improving sentiment pertaining to the Capesize market. In fact, this year the Capesize market has undergone the strongest first quarter since 2011. This reflects the strong demand for dry bulk commodities from not only China but also the rest of the world. Strong outlook for the Capesize market bodes well for SHIP.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +1200%. Revenues are expected to be $34.87 million, up 93.4% 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 been revised 315.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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.
Seanergy Maritime Holdings is part of the Zacks Transportation - Shipping industry. Seacor Marine (SMHI - Free Report) , another stock in the same industry, closed the last trading session 1.7% lower at $14.22. SMHI has returned 17.6% in the past month.
Seacor Marine's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.43. Compared to the company's year-ago EPS, this represents a change of -19.4%. Seacor Marine currently boasts a Zacks Rank of #3 (Hold).
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Seanergy Maritime Holdings (SHIP) Stock Jumps 6.8%: Will It Continue to Soar?
Seanergy Maritime Holdings Corp (SHIP - Free Report) shares ended the last trading session 6.8% higher at $8.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
Shares of dry bulk shipper Seanergy Maritime Holdings have gained 41% over the past six months driven by the improving sentiment pertaining to the Capesize market. In fact, this year the Capesize market has undergone the strongest first quarter since 2011. This reflects the strong demand for dry bulk commodities from not only China but also the rest of the world. Strong outlook for the Capesize market bodes well for SHIP.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +1200%. Revenues are expected to be $34.87 million, up 93.4% 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 been revised 315.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 is part of the Zacks Transportation - Shipping industry. Seacor Marine (SMHI - Free Report) , another stock in the same industry, closed the last trading session 1.7% lower at $14.22. SMHI has returned 17.6% in the past month.
Seacor Marine's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.43. Compared to the company's year-ago EPS, this represents a change of -19.4%. Seacor Marine currently boasts a Zacks Rank of #3 (Hold).