Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) expects quarterly dividend of $0.47

Grindrod Shipping Holdings Ltd. (NASDAQ: GRINGet a rating) declared a quarterly dividend on Tuesday, May 24, Zacks reports. Shareholders of record on Friday, June 10 will receive a dividend of 0.47 per share on Monday, June 20. This represents an annualized dividend of $1.88 and a yield of 7.50%. The ex-dividend date is Thursday, June 9.

Grindrod Shipping has a dividend payout ratio of 53.5%, which means its dividend is sufficiently covered by earnings. Research analysts expect Grindrod Shipping to earn $5.38 per share next year, meaning the company should continue to be able to cover its annual dividend of $2.88 with a ratio of expected future payout of 53.5%.

NASDAQ SMILE opened at $25.05 on Thursday. Grindrod Shipping has a 12-month minimum of $7.99 and a 12-month maximum of $28.98. The company has a debt ratio of 0.70, a quick ratio of 1.47 and a current ratio of 1.61. The stock has a market capitalization of $482.21 million, a price-earnings ratio of 4.19 and a beta of 0.80. The company’s 50-day moving average price is $25.03 and its two-hundred-day moving average price is $20.33.

Grindrod Expedition (NASDAQ: GRINGet a rating) last released its results on Tuesday, May 24. The company reported earnings per share (EPS) of $1.56 for the quarter, beating consensus analyst estimates of $1.36 by $0.20. Grindrod Shipping achieved a net margin of 23.38% and a return on equity of 41.13%. In the same quarter last year, the company posted earnings per share of $0.12. On average, research analysts expect Grindrod Shipping to post an EPS of 5.91 for the current fiscal year.

Several hedge funds have recently increased or reduced their holdings in the stock. BNP Paribas Arbitrage SA acquired a new equity stake in Grindrod Shipping in Q1 worth $285,000. Virtu Financial LLC acquired a new stake in shares of Grindrod Shipping in Q1 worth $204,000. Quantbot Technologies LP acquired a new equity stake in Grindrod Shipping in Q1 worth $35,000. Goldman Sachs Group Inc. increased its position in Grindrod Shipping by 936.0% in Q1. Goldman Sachs Group Inc. now owns 405,162 shares of the company worth $10,307,000 after acquiring 366,052 additional shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in Grindrod Shipping during Q1 worth $38,000. 32.90% of the shares are held by institutional investors and hedge funds.

A number of brokerages have published reports on GRIN. Jefferies Financial Group began covering Grindrod Shipping shares in a research note on Wednesday, April 27. They set a “buy” rating and a target price of $26.00 for the business. TheStreet downgraded Grindrod Shipping shares from a “d+” to a “c+” rating in a Monday, April 18 research note. To finish, Zacks Investment Research upgraded Grindrod Shipping shares from a “hold” rating to a “strong-buy” rating and set a target price of $26.00 for the company in a Wednesday, Feb. 23 research note.

About Grindrod Shipping (Get a rating)

Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term charter dry bulk carriers that transport a range of bulk and bulk cargo, including ores, coal, grain, forest products, iron and steel products and fertilizers. .

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