Seaspan Co. (SSW) Receives Consensus Rating of “Hold” from Brokerages

Shares of Seaspan Co. (NYSE:SSW) have been given a consensus recommendation of “Hold” by the ten analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.00.

A number of brokerages have recently commented on SSW. ValuEngine lowered Seaspan from a “buy” rating to a “hold” rating in a report on Friday. Seaport Global Securities upgraded Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, January 24th. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Jefferies Group initiated coverage on Seaspan in a research note on Monday, December 18th. They issued a “buy” rating and a $20.00 price target for the company.

Seaspan (SSW) traded up $0.24 during mid-day trading on Tuesday, reaching $7.10. The company’s stock had a trading volume of 575,273 shares, compared to its average volume of 1,404,403. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $873.83, a price-to-earnings ratio of 15.67, a PEG ratio of 1.44 and a beta of 0.52. Seaspan has a 52-week low of $5.02 and a 52-week high of $8.91.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Monday, January 22nd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 7.04%. The ex-dividend date was Friday, January 19th. Seaspan’s payout ratio is presently 111.11%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSW. Sei Investments Co. increased its stake in shares of Seaspan by 11,648.9% in the third quarter. Sei Investments Co. now owns 15,626 shares of the shipping company’s stock worth $111,000 after purchasing an additional 15,493 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in Seaspan in the 3rd quarter worth $143,000. Schwab Charles Investment Management Inc. purchased a new stake in Seaspan in the 2nd quarter worth $157,000. First Allied Advisory Services Inc. increased its holdings in Seaspan by 42.4% in the 2nd quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after acquiring an additional 7,366 shares in the last quarter. Finally, Shelton Capital Management purchased a new stake in Seaspan in the 2nd quarter worth $179,000. Hedge funds and other institutional investors own 14.40% 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.

Analyst Recommendations for Seaspan (NYSE:SSW)

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