Seaspan Corporation (SSW) Expected to Post Earnings of $0.20 Per Share
Equities analysts forecast that Seaspan Corporation (NYSE:SSW) will post earnings of $0.20 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Seaspan Corporation’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.16. Seaspan Corporation posted earnings per share of $0.21 during the same quarter last year, which indicates a negative year over year growth rate of 4.8%. The firm is expected to announce its next earnings results on Tuesday, February 27th.
On average, analysts expect that Seaspan Corporation will report full-year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.63 to $0.78. For the next financial year, analysts anticipate that the firm will post earnings of $1.14 per share, with EPS estimates ranging from $0.82 to $1.59. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Seaspan Corporation.
Seaspan Corporation (NYSE:SSW) last released its earnings results on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Seaspan Corporation had a net margin of 14.23% and a return on equity of 7.23%. The business had revenue of $211.01 million for the quarter, compared to the consensus estimate of $212.46 million. During the same period in the previous year, the firm earned $0.29 EPS.
SSW has been the topic of a number of analyst reports. BidaskClub upgraded shares of Seaspan Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target on shares of Seaspan Corporation in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Seaspan Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Credit Suisse Group set a $5.00 price target on shares of Seaspan Corporation and gave the company a “sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine downgraded shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Seaspan Corporation has a consensus rating of “Hold” and an average target price of $6.79.
In related news, CEO Gerry Yougui Wang bought 10,076 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $64,385.64. Following the acquisition, the chief executive officer now owns 2,042,848 shares of the company’s stock, valued at approximately $13,053,798.72. The purchase was disclosed in a filing with the SEC, which is available at this link.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $11,320,000 after purchasing an additional 513,707 shares during the last quarter. Fairview Capital Investment Management LLC raised its holdings in shares of 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 valued at $11,147,000 after purchasing an additional 196,572 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Seaspan Corporation by 636.0% in the second quarter. Goldman Sachs Group Inc. now owns 628,624 shares of the shipping company’s stock valued at $4,488,000 after purchasing an additional 543,211 shares during the last quarter. Parametrica Management Ltd raised its holdings in shares of Seaspan Corporation by 1,290.6% in the third quarter. Parametrica Management Ltd now owns 618,166 shares of the shipping company’s stock valued at $4,383,000 after purchasing an additional 573,712 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of Seaspan Corporation in the second quarter valued at approximately $3,404,000. Institutional investors own 15.33% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 20th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.50 annualized dividend and a yield of 7.14%. Seaspan Corporation’s dividend payout ratio (DPR) is currently 111.11%.
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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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