Seaspan (SSW) Rating Lowered to Sell at Zacks Investment Research

Seaspan (NYSE:SSW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “

Several other research analysts have also issued reports on SSW. ValuEngine lowered shares of Seaspan from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group began coverage on shares of Seaspan in a research note on Monday, December 18th. They set a “buy” rating and a $20.00 target price on the stock. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Seaspan presently has an average rating of “Hold” and a consensus target price of $8.21.

Seaspan (NYSE SSW) opened at $7.10 on Friday. The stock has a market cap of $878.78, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.39 and a beta of 0.60. Seaspan has a 12 month low of $5.02 and a 12 month high of $11.76. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.19 and a current ratio of 1.19.

Seaspan (NYSE:SSW) last issued its earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $211.01 million for the quarter, compared to analyst estimates of $212.46 million. Seaspan had a net margin of 14.23% and a return on equity of 7.14%. During the same period in the prior year, the firm earned $0.29 earnings per share. analysts predict that Seaspan will post 0.71 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in Seaspan by 3.9% during the second quarter. Wells Fargo & Company MN now owns 36,101 shares of the shipping company’s stock worth $258,000 after buying an additional 1,339 shares during the last quarter. Royal Bank of Canada raised its holdings in Seaspan by 8.6% during the second quarter. Royal Bank of Canada now owns 70,307 shares of the shipping company’s stock worth $501,000 after buying an additional 5,577 shares during the last quarter. First Allied Advisory Services Inc. raised its holdings in Seaspan by 42.4% during the second quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after buying an additional 7,366 shares during the last quarter. State Street Corp raised its holdings in Seaspan by 3.1% during the second quarter. State Street Corp now owns 279,189 shares of the shipping company’s stock worth $1,994,000 after buying an additional 8,400 shares during the last quarter. Finally, Symons Capital Management Inc. raised its holdings in Seaspan by 16.4% during the third quarter. Symons Capital Management Inc. now owns 83,264 shares of the shipping company’s stock worth $591,000 after buying an additional 11,714 shares during the last quarter. Hedge funds and other institutional investors own 14.32% of the company’s stock.

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Seaspan 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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