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Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) just released its latest first-quarter results and things are looking bullish. Revenues and losses per share were both better than expected, with revenues of US$24m leading estimates by 4.3%. Statutory losses were smaller than the analystsexpected, coming in at US$0.34 per share. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
Taking into account the latest results, the current consensus, from the four analysts covering Seanergy Maritime Holdings, is for revenues of US$136.7m in 2025. This implies an uneasy 11% reduction in Seanergy Maritime Holdings' revenue over the past 12 months. Statutory earnings per share are forecast to plunge 69% to US$0.37 in the same period. Before this latest report, the consensus had been expecting revenues of US$136.2m and US$0.15 per share in losses. While there's been no material change to the revenue estimates, there's been a pretty clear upgrade to earnings estimates, with the analysts expecting a per-share profit compared to previous expectations of a loss. So it seems like the latest results have led to a significant increase in sentiment for Seanergy Maritime Holdings.
Check out our latest analysis for Seanergy Maritime Holdings
The consensus price target was unchanged at US$11.06, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Seanergy Maritime Holdings at US$15.00 per share, while the most bearish prices it at US$9.00. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Seanergy Maritime Holdings shareholders.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that revenue is expected to reverse, with a forecast 14% annualised decline to the end of 2025. That is a notable change from historical growth of 13% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue decline 0.03% annually for the foreseeable future. The forecasts do look bearish for Seanergy Maritime Holdings, since they're expecting it to shrink faster than the industry.