Analysts Anticipate Seaspan Corporation (SSW) Will Post Earnings of $0.19 Per Share
Equities research analysts expect Seaspan Corporation (NYSE:SSW) to post earnings per share of $0.19 for the current quarter, according to Zacks. Seven analysts have issued estimates for Seaspan Corporation’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.16. Seaspan Corporation posted earnings of $0.29 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 34.5%. The firm is expected to issue its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Seaspan Corporation will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.65 to $0.78. For the next year, analysts expect that the business will post earnings of $1.13 per share, with EPS estimates ranging from $0.84 to $1.59. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Seaspan Corporation.
SSW has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective on shares of Seaspan Corporation in a report on Friday, July 14th. BidaskClub raised Seaspan Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Credit Suisse Group set a $5.00 price objective on Seaspan Corporation and gave the stock a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Seaspan Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, ValuEngine cut Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $6.79.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 20th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.50 annualized dividend and a yield of 6.92%. Seaspan Corporation’s payout ratio is presently -29.94%.
In other Seaspan Corporation news, CEO Gerry Yougui Wang sold 634,762 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $7.45, for a total value of $4,728,976.90. Following the transaction, the chief executive officer now owns 2,042,848 shares of the company’s stock, valued at approximately $15,219,217.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several institutional investors and hedge funds have recently bought and sold shares of SSW. Cue Financial Group Inc. grew its position in shares of Seaspan Corporation by 13.0% during the 2nd quarter. Cue Financial Group Inc. now owns 17,400 shares of the shipping company’s stock worth $124,000 after buying an additional 2,000 shares in the last quarter. Bank of America Corp DE grew its position in shares of Seaspan Corporation by 9.3% during the 1st quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after buying an additional 1,775 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Seaspan Corporation by 25.5% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 21,150 shares of the shipping company’s stock worth $151,000 after buying an additional 4,300 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Seaspan Corporation during the 2nd quarter worth $157,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Seaspan Corporation during the 1st quarter worth $163,000. 15.33% of the stock is currently owned by institutional investors and hedge funds.
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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