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Seanergy Maritimesurpassed the Zacks Consensus Estimate in each of the past two quarters.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SHIP’s soon-to-be reported quarter’s earnings has been revised downward by 11.4% in the past 60 days to 62 cents per share. Meanwhile,the Zacks Consensus Estimate for revenues is pegged at $40.7 million, which indicates growth of 43.6% year over year.
Seanergy Maritime Holdings, a dry bulk shipping company, is benefiting from the improving sentiment surrounding the Capesize market. The favorable conditions in the dry bulk sector, along with other positive market factors, are contributing to the company’s prospects in the to-be-reported quarter.
Moreover, an increase in manufacturing activities in Asia is further bolstering the containership market, providing a significant tailwind for shipping companies like Seanergy Maritime.
On the contrary,surging operating expenses are expected to have an adverse effect on SHIP’s bottom-line performance in the to-be-reported quarter. This increase is anticipated to be primarily driven by elevated fuel expenses and vessel operating costs. Additionally, supply-chain disruptions are expected to further dampen the company's performance for the quarter ending in June.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Seanergy Maritimethis time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Seanergy Maritime has an Earnings ESP of -0.81% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Highlights of Q1
Seanergy Maritime’s first-quarter 2024 earnings of 50 cents per share outpaced the Zacks Consensus Estimate of 28 cents, and total revenues of $38.3 million beat the Zacks Consensus Estimate of $34 million. Both earnings and revenues have shown a year-over-year increase.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors might want to consider as well, as our model shows that these have the right combination of elements to beat second-quarter 2024 earnings.
Copa Holdings (CPA - Free Report) has an Earnings ESP of +1.55% and a Zacks Rank #3. The company is scheduled to report second-quarter 2024 earnings on Aug 7.
CPA has an encouraging earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 20.2%.
EXPD has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate only once in the preceding four quarters and missing thrice, the average miss being 3.44%.
Image: Bigstock
What's in Store for Seanergy Maritime (SHIP) in Q2 Earnings?
Seanergy Maritime Holdings (SHIP - Free Report) is scheduled to report second-quarter 2024 results on Aug 6 before market open.
Seanergy Maritime surpassed the Zacks Consensus Estimate in each of the past two quarters.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SHIP’s soon-to-be reported quarter’s earnings has been revised downward by 11.4% in the past 60 days to 62 cents per share. Meanwhile,the Zacks Consensus Estimate for revenues is pegged at $40.7 million, which indicates growth of 43.6% year over year.
Seanergy Maritime Holdings, a dry bulk shipping company, is benefiting from the improving sentiment surrounding the Capesize market. The favorable conditions in the dry bulk sector, along with other positive market factors, are contributing to the company’s prospects in the to-be-reported quarter.
Moreover, an increase in manufacturing activities in Asia is further bolstering the containership market, providing a significant tailwind for shipping companies like Seanergy Maritime.
On the contrary,surging operating expenses are expected to have an adverse effect on SHIP’s bottom-line performance in the to-be-reported quarter. This increase is anticipated to be primarily driven by elevated fuel expenses and vessel operating costs. Additionally, supply-chain disruptions are expected to further dampen the company's performance for the quarter ending in June.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Seanergy Maritime this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Seanergy Maritime has an Earnings ESP of -0.81% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Highlights of Q1
Seanergy Maritime’s first-quarter 2024 earnings of 50 cents per share outpaced the Zacks Consensus Estimate of 28 cents, and total revenues of $38.3 million beat the Zacks Consensus Estimate of $34 million. Both earnings and revenues have shown a year-over-year increase.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors might want to consider as well, as our model shows that these have the right combination of elements to beat second-quarter 2024 earnings.
Copa Holdings (CPA - Free Report) has an Earnings ESP of +1.55% and a Zacks Rank #3. The company is scheduled to report second-quarter 2024 earnings on Aug 7.
CPA has an encouraging earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The average beat is 20.2%.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +2.22% and a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.The company is scheduled to report second-quarter 2024 earnings on Aug 6.
EXPD has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate only once in the preceding four quarters and missing thrice, the average miss being 3.44%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.