Seaspan Co. (NYSE:SSW) declared a quarterly dividend on Tuesday, January 9th, RTT News reports. Shareholders 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 7.15%. The ex-dividend date of this dividend is Friday, January 19th.
Seaspan has decreased its dividend by an average of 34.7% annually over the last three years and has increased 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. Equities analysts expect Seaspan to earn $1.03 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 48.5%.
Seaspan (NYSE:SSW) opened at $6.99 on Thursday. The company has a market capitalization of $881.26, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.45 and a beta of 0.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19. Seaspan has a 12-month low of $5.02 and a 12-month high of $11.35.
Several brokerages have weighed in on SSW. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Jefferies Group began coverage on Seaspan in a report on Monday, December 18th. They issued a “buy” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Seaspan has a consensus rating of “Hold” and an average price target of $8.21.
An institutional investor recently raised its position in Seaspan stock. State Street Corp grew its position in Seaspan Co. (NYSE:SSW) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 279,189 shares of the shipping company’s stock after buying an additional 8,400 shares during the quarter. State Street Corp owned 0.24% of Seaspan worth $1,994,000 at the end of the most recent reporting period. Institutional investors own 14.32% of the company’s stock.
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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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