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COSCO SHIPPING (OTCMKTS:CICOY) Shares Pass Below Fifty Day Moving Average - Here's Why

COSCO SHIPPING logo with Transportation background

Key Points

  • The share price of COSCO SHIPPING fell below its 50-day moving average of $9.11, trading as low as $8.60, with last trades at $8.66.
  • Equities analysts have recently downgraded COSCO SHIPPING's rating from "strong-buy" to "hold" and "strong sell", reflecting a bearish sentiment.
  • The company is set to pay a $0.2832 dividend on November 10th, representing an astonishing yield of 1,282.0% for investors of record.
  • Interested in COSCO SHIPPING? Here are five stocks we like better.

COSCO SHIPPING Holdings Co., Ltd. Unsponsored ADR (OTCMKTS:CICOY - Get Free Report)'s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.11 and traded as low as $8.60. COSCO SHIPPING shares last traded at $8.66, with a volume of 18,444 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CICOY shares. Zacks Research cut shares of COSCO SHIPPING from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Citigroup cut shares of COSCO SHIPPING from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, COSCO SHIPPING presently has an average rating of "Reduce".

View Our Latest Analysis on COSCO SHIPPING

COSCO SHIPPING Stock Performance

The stock's 50 day moving average is $9.11 and its 200 day moving average is $8.46. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.11.

COSCO SHIPPING Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, November 10th. Investors of record on Thursday, September 25th will be paid a $0.2832 dividend. This represents a yield of 1,282.0%. The ex-dividend date of this dividend is Wednesday, September 24th.

About COSCO SHIPPING

(Get Free Report)

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.

Further Reading

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