COSCO SHIPPING (OTCMKTS:CICOY) Reaches New 1-Year High - Here's What Happened

Key Points

• COSCO SHIPPING Holdings has reached a new 52-week high, trading at $9.90, although it last traded at $9.49 with low trading volume.
• Following a downgrade from Citigroup, COSCO SHIPPING's stock rating shifted from "strong-buy" to "strong sell."
• The company recently increased its dividend to $0.5456, yielding 8.88%, a notable rise from the previous dividend of $0.28.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.90 and last traded at $9.49, with a volume of 1269 shares trading hands. The stock had previously closed at $9.79.

Analyst Ratings Changes

Separately, Citigroup cut COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, June 24th.

COSCO SHIPPING Price Performance

The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $8.89 and a 200 day simple moving average of $8.08.

COSCO SHIPPING Increases Dividend

The business also recently declared a dividend, which was paid on Monday, July 14th. Investors of record on Tuesday, June 3rd were given a dividend of $0.5456 per share. This is a boost from COSCO SHIPPING's previous dividend of $0.28. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 888.0%.

About COSCO SHIPPING

COSCO SHIPPING Holdings Co, Ltd., an investment holding company, engages in the container shipping, managing and operating container terminals, and other terminal related businesses in the United States, Europe, the Asia Pacific, Mainland China, and internationally. It operates through Container Shipping Business and Terminal Business segments.