Wall Street analysts expect Seaspan Corporation (NYSE:SSW) to report sales of $213.62 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Seaspan Corporation’s earnings, with the lowest sales estimate coming in at $210.22 million and the highest estimate coming in at $219.40 million. Seaspan Corporation reported sales of $224.88 million in the same quarter last year, which indicates a negative year over year growth rate of 5%. The company is expected to report its next quarterly earnings report on Monday, October 30th.

On average, analysts expect that Seaspan Corporation will report full-year sales of $213.62 million for the current year, with estimates ranging from $826.85 million to $844.19 million. For the next financial year, analysts expect that the business will post sales of $919.78 million per share, with estimates ranging from $892.26 million to $961.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Seaspan Corporation.

Several research analysts have commented on the company. Zacks Investment Research downgraded Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Credit Suisse Group downgraded Seaspan Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $7.00 to $6.00 in a research report on Monday, May 1st. BidaskClub raised Seaspan Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Citigroup Inc. raised Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 price target on the stock in a research report on Tuesday, May 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price target on shares of Seaspan Corporation in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $6.81.

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Several hedge funds have recently added to or reduced their stakes in SSW. Dimensional Fund Advisors LP boosted its stake in Seaspan Corporation by 47.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,586,478 shares of the shipping company’s stock worth $11,320,000 after buying an additional 513,707 shares in the last quarter. Fairview Capital Investment Management LLC boosted its stake in Seaspan Corporation by 14.4% in the second quarter. Fairview Capital Investment Management LLC now owns 1,561,147 shares of the shipping company’s stock worth $11,147,000 after buying an additional 196,572 shares in the last quarter. Global X Management Co. LLC boosted its stake in Seaspan Corporation by 85.4% in the first quarter. Global X Management Co. LLC now owns 1,072,574 shares of the shipping company’s stock worth $7,433,000 after buying an additional 493,906 shares in the last quarter. Highbridge Capital Management LLC boosted its stake in 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 worth $6,681,000 after buying an additional 943,063 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Seaspan Corporation by 636.0% in the second quarter. Goldman Sachs Group Inc. now owns 628,624 shares of the shipping company’s stock worth $4,488,000 after buying an additional 543,211 shares in the last quarter. Institutional investors and hedge funds own 12.62% of the company’s stock.

Shares of Seaspan Corporation (SSW) opened at 6.71 on Friday. The stock’s 50 day moving average is $6.71 and its 200-day moving average is $6.69. The firm’s market cap is $790.69 million. Seaspan Corporation has a 52-week low of $5.02 and a 52-week high of $15.31.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 20th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date was Tuesday, July 18th. Seaspan Corporation’s dividend payout ratio is presently -29.94%.

About Seaspan Corporation

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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