SEASPAN CORP/SH SH (NYSE:SSW) announced a quarterly dividend on Monday, October 7th, RTT News reports. Investors of record on Monday, October 21st will be given a dividend of 0.125 per share by the shipping company on Wednesday, October 30th. This represents a $0.50 annualized dividend and a dividend yield of 4.76%.
SEASPAN CORP/SH SH has decreased its dividend by an average of 30.2% annually over the last three years and has raised its dividend every year for the last 7 years. SEASPAN CORP/SH SH has a payout ratio of 56.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SEASPAN CORP/SH SH to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 64.9%.
Shares of SEASPAN CORP/SH SH stock traded down $0.03 on Monday, hitting $10.50. The company’s stock had a trading volume of 311,213 shares, compared to its average volume of 641,387. SEASPAN CORP/SH SH has a 52-week low of $7.05 and a 52-week high of $11.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average price of $10.70 and a 200-day moving average price of $9.89. The company has a market capitalization of $2.27 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.75.
SSW has been the topic of a number of recent research reports. ValuEngine lowered shares of SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BMO Capital Markets initiated coverage on shares of SEASPAN CORP/SH SH in a report on Wednesday, August 14th. They issued a “market perform” rating and a $10.50 target price on the stock. Finally, Zacks Investment Research lowered shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. SEASPAN CORP/SH SH has a consensus rating of “Hold” and an average target price of $10.88.
About SEASPAN CORP/SH SH
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.
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