According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “
Separately, Clarkson Capital reaffirmed a neutral rating on shares of Seaspan Corp. in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $16.00.
Shares of Seaspan Corp. (NYSE:SSW) traded down 1.42% during midday trading on Thursday, reaching $13.18. 158,493 shares of the company’s stock traded hands. The stock’s 50 day moving average is $13.95 and its 200-day moving average is $15.36. Seaspan Corp. has a 52 week low of $13.16 and a 52 week high of $20.00. The company has a market capitalization of $1.39 billion, a PE ratio of 15.22 and a beta of 1.29.
Seaspan Corp. (NYSE:SSW) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business earned $224.31 million during the quarter, compared to the consensus estimate of $217.74 million. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. On average, analysts forecast that Seaspan Corp. will post $1.22 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SSW. Royal Bank of Canada raised its position in Seaspan Corp. by 24.9% in the second quarter. Royal Bank of Canada now owns 96,815 shares of the company’s stock valued at $1,352,000 after buying an additional 19,271 shares during the last quarter. Stifel Financial Corp acquired a new position in Seaspan Corp. during the second quarter valued at $167,000. GLG Partners LP acquired a new position in Seaspan Corp. during the second quarter valued at $899,000. Cubist Systematic Strategies LLC raised its position in Seaspan Corp. by 10.2% in the second quarter. Cubist Systematic Strategies LLC now owns 22,210 shares of the company’s stock valued at $310,000 after buying an additional 2,047 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Seaspan Corp. during the second quarter valued at $1,025,000. 11.87% of the stock is currently owned by hedge funds and other institutional investors.
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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