Seaspan Co. (NYSE:SSW) announced a quarterly dividend on Tuesday, January 9th, RTT News reports. Investors of record on Monday, January 22nd will be paid a dividend of 0.125 per share by the shipping company on Tuesday, January 30th. This represents a $0.50 annualized dividend and a yield of 6.87%. The ex-dividend date is Friday, January 19th.
Seaspan has decreased its dividend by an average of 34.7% per year over the last three years and has raised its dividend every year for the last 6 years. Seaspan has a dividend payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Seaspan to earn $1.05 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 47.6%.
Shares of Seaspan (NYSE SSW) opened at $7.28 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.57. Seaspan has a 52-week low of $5.02 and a 52-week high of $11.76. The company has a market capitalization of $901.06, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.45 and a beta of 0.60.
A number of equities analysts have recently issued reports on SSW shares. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Jefferies Group started coverage on Seaspan in a report on Monday, December 18th. They issued a “buy” rating and a $20.00 target price for the company. Finally, ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.21.
An institutional investor recently raised its position in Seaspan stock. Vanguard Group Inc. lifted its stake in Seaspan Co. (NYSE:SSW) by 836.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,751 shares of the shipping company’s stock after purchasing an additional 188,234 shares during the period. Vanguard Group Inc. owned 0.18% of Seaspan worth $1,505,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.32% of the company’s stock.
Seaspan Company Profile
Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.
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