Seaspan Co. (NYSE:SSW) declared a quarterly dividend on Tuesday, January 9th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 7.14%. 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 payout ratio of 70.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Seaspan to earn $1.06 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 47.2%.
Seaspan (NYSE:SSW) traded down $0.22 during midday trading on Wednesday, hitting $7.00. 1,282,700 shares of the company were exchanged, compared to its average volume of 1,373,950. Seaspan has a fifty-two week low of $5.02 and a fifty-two week high of $11.76. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $866.41, a price-to-earnings ratio of 15.22, a PEG ratio of 1.40 and a beta of 0.60.
Seaspan (NYSE:SSW) last posted its quarterly earnings data on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Seaspan had a net margin of 14.23% and a return on equity of 7.14%. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $212.46 million. During the same quarter last year, the business earned $0.29 earnings per share. analysts forecast that Seaspan will post 0.71 EPS for the current year.
An institutional investor recently raised its position in Seaspan stock. State Street Corp boosted its holdings in Seaspan Co. (NYSE:SSW) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing. 14.32% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on SSW. Zacks Investment Research lowered shares of Seaspan from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine lowered shares of Seaspan from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Jefferies Group began coverage on shares of Seaspan in a research report on Monday, December 18th. They issued a “buy” rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $8.21.
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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