Separately, Zacks Investment Research raised shares of Seaspan Corp. from a hold rating to a buy rating and set a $17.00 target price on the stock in a research report on Wednesday, July 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $16.00.
Shares of Seaspan Corp. (NYSE:SSW) traded down 0.44% during midday trading on Friday, hitting $13.46. The stock had a trading volume of 155,646 shares. The firm has a 50-day moving average price of $14.24 and a 200-day moving average price of $15.58. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 15.54 and a beta of 1.37. Seaspan Corp. has a 1-year low of $13.27 and a 1-year high of $20.00.
Seaspan Corp. (NYSE:SSW) last posted its earnings results on Monday, July 25th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $224.31 million for the quarter, compared to the consensus estimate of $217.74 million. Seaspan Corp. had a net margin of 16.10% and a return on equity of 10.41%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. On average, equities analysts anticipate that Seaspan Corp. will post $1.22 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Airain ltd bought a new stake in Seaspan Corp. during the second quarter valued at $241,000. California Public Employees Retirement System boosted its stake in Seaspan Corp. by 1.7% in the second quarter. California Public Employees Retirement System now owns 135,800 shares of the company’s stock valued at $1,896,000 after buying an additional 2,300 shares during the last quarter. Bank of Montreal Can bought a new stake in Seaspan Corp. during the second quarter valued at $911,000. CIBC World Markets Inc. boosted its stake in Seaspan Corp. by 19.4% in the second quarter. CIBC World Markets Inc. now owns 46,115 shares of the company’s stock valued at $644,000 after buying an additional 7,479 shares during the last quarter. Finally, TIAA CREF Trust Co. FSB MO boosted its stake in 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 valued at $594,000 after buying an additional 3,116 shares during the last quarter. Institutional investors and hedge funds own 11.87% of the company’s stock.
Seaspan Corp. Company Profile
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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