Seaspan Corp. (NYSE:SSW) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $15.80.
Separately, Zacks Investment Research lowered shares of Seaspan Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th.
Seaspan Corp. (NYSE:SSW) opened at 13.94 on Tuesday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 16.10 and a beta of 1.37. The stock’s 50 day moving average is $14.37 and its 200 day moving average is $15.67. Seaspan Corp. has a 52 week low of $13.30 and a 52 week high of $20.00.
Seaspan Corp. (NYSE:SSW) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Seaspan Corp. had a net margin of 16.10% and a return on equity of 10.41%. The firm had revenue of $224.31 million for the quarter, compared to analyst estimates of $217.74 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Equities research analysts expect that Seaspan Corp. will post $1.22 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Fairview Capital Investment Management LLC raised its stake in shares of Seaspan Corp. by 5.3% in the second quarter. Fairview Capital Investment Management LLC now owns 4,538,788 shares of the company’s stock worth $63,361,000 after buying an additional 227,111 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Seaspan Corp. during the first quarter worth approximately $262,000. Global X Management Co. LLC acquired a new stake in shares of Seaspan Corp. during the second quarter worth approximately $7,673,000. M&T Bank Corp acquired a new stake in shares of Seaspan Corp. during the first quarter worth approximately $324,000. Finally, TIAA CREF Trust Co. FSB MO raised its stake in shares of Seaspan Corp. by 7.9% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 42,599 shares of the company’s stock worth $594,000 after buying an additional 3,116 shares in the last quarter. 11.87% of the stock is currently owned by institutional investors and hedge funds.
About Seaspan Corp.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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