Seaspan Corp. (SSW) Declares Quarterly Dividend of $0.38
Seaspan Corp. (NYSE:SSW) declared a quarterly dividend on Tuesday, October 11th. Investors of record on Thursday, October 20th will be given a dividend of 0.375 per share on Monday, October 31st. This represents a $1.50 annualized dividend and a dividend yield of 11.19%.
Seaspan Corp. (NYSE:SSW) last released its quarterly earnings results on Monday, July 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $224.31 million for the quarter, compared to the consensus estimate of $217.74 million. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS.
Several large investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Seaspan Corp. by 19.8% in the second quarter. State Street Corp now owns 246,225 shares of the company’s stock worth $3,437,000 after buying an additional 40,655 shares during the period. Guggenheim Capital LLC increased its stake in Seaspan Corp. by 11.5% in the second quarter. Guggenheim Capital LLC now owns 167,790 shares of the company’s stock worth $2,343,000 after buying an additional 17,283 shares during the period. Vanguard Group Inc. increased its stake in Seaspan Corp. by 35.7% in the second quarter. Vanguard Group Inc. now owns 166,980 shares of the company’s stock worth $2,331,000 after buying an additional 43,884 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Seaspan Corp. by 112.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 157,730 shares of the company’s stock worth $2,202,000 after buying an additional 83,405 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Seaspan Corp. by 7,876.4% in the second quarter. BlackRock Fund Advisors now owns 155,539 shares of the company’s stock worth $2,171,000 after buying an additional 153,589 shares during the period. 11.87% of the stock is owned by institutional investors and hedge funds.
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Several research analysts have weighed in on SSW shares. Clarkson Capital reiterated a “neutral” rating on shares of Seaspan Corp. in a research note on Friday, September 23rd. Zacks Investment Research upgraded Seaspan Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, October 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.00.
About Seaspan Corp.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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