Wall Street brokerages expect Seaspan Corporation (NYSE:SSW) to announce sales of $207.97 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Seaspan Corporation’s earnings. The lowest sales estimate is $204.07 million and the highest is $217.59 million. Seaspan Corporation reported sales of $224.31 million in the same quarter last year, which would suggest a negative year over year growth rate of 7.3%. The business is scheduled to announce its next earnings results on Monday, July 24th.

According to Zacks, analysts expect that Seaspan Corporation will report full-year sales of $207.97 million for the current year, with estimates ranging from $837.51 million to $894.75 million. For the next year, analysts forecast that the business will report sales of $928.59 million per share, with estimates ranging from $892.55 million to $958.55 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Seaspan Corporation.

Seaspan Corporation (NYSE:SSW) last issued its quarterly earnings data on Wednesday, April 26th. The shipping company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Seaspan Corporation had a positive return on equity of 8.08% and a negative net margin of 12.29%. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $204.09 million. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year.

A number of research firms have commented on SSW. Citigroup Inc. raised Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a research report on Tuesday, May 2nd. Zacks Investment Research raised Seaspan Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Thursday, June 29th. Credit Suisse Group lowered Seaspan Corporation from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $7.00 to $6.00 in a research report on Monday, May 1st. ValuEngine lowered Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $6.00 price target (down previously from $11.00) on shares of Seaspan Corporation in a research report on Thursday, March 16th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.93.

Shares of Seaspan Corporation (SSW) traded down 8.00% during trading on Friday, hitting $6.44. The stock had a trading volume of 1,158,942 shares. The firm has a 50-day moving average price of $5.85 and a 200 day moving average price of $7.43. The company’s market capitalization is $705.06 million. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $15.49.

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Several hedge funds and other institutional investors have recently made changes to their positions in SSW. Goldman Sachs Group Inc. raised its position in shares of Seaspan Corporation by 36.9% in the first quarter. Goldman Sachs Group Inc. now owns 85,413 shares of the shipping company’s stock valued at $592,000 after buying an additional 23,002 shares in the last quarter. Credit Suisse AG raised its position in shares of Seaspan Corporation by 27.1% in the first quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock valued at $350,000 after buying an additional 10,759 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Seaspan Corporation during the first quarter valued at about $163,000. Highbridge Capital Management LLC raised its position in shares of Seaspan Corporation by 4,478.2% in the first quarter. Highbridge Capital Management LLC now owns 964,122 shares of the shipping company’s stock valued at $6,681,000 after buying an additional 943,063 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Seaspan Corporation by 9.3% in the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock valued at $144,000 after buying an additional 1,775 shares in the last quarter. 14.42% of the stock is owned by hedge funds and other institutional investors.

Seaspan Corporation Company Profile

Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.

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Earnings History and Estimates for Seaspan Corporation (NYSE:SSW)

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