Seaspan Corp. (NYSE:SSW) Receives Average Rating of “Hold” from Analysts
Shares of Seaspan Corp. (NYSE:SSW) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.80.
A number of analysts recently commented on the company. Deutsche Bank AG lowered Seaspan Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $12.00 in a report on Tuesday, May 24th. Zacks Investment Research upgraded Seaspan Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, July 13th.
Shares of Seaspan Corp. (NYSE:SSW) traded down 0.6853% during trading on Tuesday, reaching $13.5068. 135,398 shares of the company traded hands. The stock has a market cap of $1.42 billion, a P/E ratio of 15.5968 and a beta of 1.37. The stock’s 50 day moving average price is $14.49 and its 200-day moving average price is $15.76. Seaspan Corp. has a 12 month low of $13.30 and a 12 month high of $20.00.
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Seaspan Corp. (NYSE:SSW) last announced its earnings results on Monday, July 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The company had revenue of $224.31 million for the quarter, compared to analysts’ expectations of $217.74 million. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. Seaspan Corp.’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts expect that Seaspan Corp. will post $1.22 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in shares of Seaspan Corp. during the second quarter valued at about $140,000. BlackRock Group LTD raised its stake in shares of Seaspan Corp. by 14.3% in the first quarter. BlackRock Group LTD now owns 7,852 shares of the company’s stock valued at $144,000 after buying an additional 980 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Seaspan Corp. by 0.8% in the second quarter. First Allied Advisory Services Inc. now owns 10,456 shares of the company’s stock valued at $145,000 after buying an additional 79 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Seaspan Corp. during the second quarter valued at about $167,000. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Seaspan Corp. by 9.0% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 12,077 shares of the company’s stock valued at $169,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 11.87% of the company’s stock.
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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