Seaspan (SSW) Trading -2.4% Higher

Seaspan Co. (NYSE:SSW)’s share price traded up 2.4% during mid-day trading on Thursday . The stock traded as high as $6.80 and last traded at $6.64. 564,979 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,766,962 shares. The stock had previously closed at $6.80.

Several equities analysts have issued reports on the stock. ValuEngine lowered shares of Seaspan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Stifel Nicolaus reaffirmed a “hold” rating on shares of Seaspan in a report on Thursday, March 15th. Bank of America lifted their price target on shares of Seaspan from $6.00 to $6.20 and gave the stock an “underperform” rating in a report on Thursday, March 15th. Jefferies Group assumed coverage on shares of Seaspan in a report on Monday, December 18th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Seaport Global Securities raised shares of Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Seaspan currently has a consensus rating of “Hold” and an average price target of $8.74.

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The firm has a market capitalization of $841.65, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 0.26 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.86 and a current ratio of 0.86.

Seaspan (NYSE:SSW) last announced its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). The company had revenue of $214.38 million for the quarter, compared to analysts’ expectations of $217.56 million. Seaspan had a net margin of 21.08% and a return on equity of 6.79%. During the same period last year, the firm earned $0.21 earnings per share. research analysts forecast that Seaspan Co. will post 1.17 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP grew its holdings in shares of Seaspan by 2,436.0% during the fourth quarter. Two Sigma Investments LP now owns 507,432 shares of the shipping company’s stock valued at $3,425,000 after buying an additional 487,423 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Seaspan by 4.2% during the fourth quarter. First Trust Advisors LP now owns 427,184 shares of the shipping company’s stock valued at $2,883,000 after buying an additional 17,268 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Seaspan during the fourth quarter valued at $2,759,000. Schroder Investment Management Group purchased a new stake in shares of Seaspan during the fourth quarter valued at $2,198,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Seaspan by 76.5% during the third quarter. JPMorgan Chase & Co. now owns 318,452 shares of the shipping company’s stock valued at $2,271,000 after buying an additional 138,022 shares during the last quarter. 15.64% of the stock is currently owned by hedge funds and other institutional investors.

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About Seaspan

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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