Seaspan Co. (NYSE:SSW) declared a quarterly dividend on Tuesday, January 9th, RTT News reports. Stockholders of record on Monday, January 22nd will be given a dividend of 0.125 per share by the shipping company on Tuesday, January 30th. This represents a $0.50 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Friday, January 19th.
Seaspan has decreased its dividend payment by an average of 34.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Seaspan has a dividend payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. 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%.
Seaspan (SSW) opened at $7.28 on Friday. The company has a market cap of $901.06, a P/E ratio of 10.25, a P/E/G ratio of 1.45 and a beta of 0.60. Seaspan has a 12 month low of $5.02 and a 12 month high of $11.76. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.19 and a current ratio of 1.19.
Several equities analysts recently commented on the stock. Zacks Investment Research cut shares of Seaspan from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. ValuEngine cut shares of Seaspan from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Jefferies Group assumed coverage on shares of Seaspan in a research note on Monday, December 18th. They set a “buy” rating and a $20.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.21.
A hedge fund recently raised its stake in Seaspan stock. Vanguard Group Inc. raised its stake in shares of Seaspan Co. (NYSE:SSW) by 836.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,751 shares of the shipping company’s stock after purchasing an additional 188,234 shares during the quarter. Vanguard Group Inc. owned 0.18% of Seaspan worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 14.32% of the stock is currently owned by institutional investors.
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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