Seaspan Downgraded to “Underperform” at Zacks (SSW)
Seaspan (NYSE:SSW) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings News reports. They currently have a $20.70 target price on the stock. Zacks‘ price target suggests a potential downside of 5.48% from the stock’s previous close.
Seaspan (NYSE:SSW) traded down 0.36% during mid-day trading on Tuesday, hitting $21.90. 68,117 shares of the company’s stock traded hands. Seaspan has a 52 week low of $14.73 and a 52 week high of $23.52. The stock has a 50-day moving average of $21.42 and a 200-day moving average of $21.33. The company has a market cap of $1.408 billion and a P/E ratio of 8.17.
Seaspan (NYSE:SSW) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.24 by $0.06. The company had revenue of $167.79 million for the quarter, compared to the consensus estimate of $166.93 million. During the same quarter last year, the company posted $0.35 earnings per share. Seaspan’s revenue was up .1% compared to the same quarter last year. Analysts expect that Seaspan will post $0.83 EPS for the current fiscal year.
Seaspan Corporation (NYSE:SSW) is an independent charter owner of containerships, which the Company charters pursuant to long-term, fixed-rate time charters agreement.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.