Brokerages Set SEASPAN CORP/SH SH (NYSE:SSW) Target Price at $9.60

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Shares of SEASPAN CORP/SH SH (NYSE:SSW) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.25.

SSW has been the subject of several research reports. Jefferies Financial Group cut shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research note on Thursday, May 9th. Zacks Investment Research cut shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating in a research note on Saturday.

A number of institutional investors and hedge funds have recently made changes to their positions in SSW. D.A. Davidson & CO. acquired a new position in shares of SEASPAN CORP/SH SH during the 2nd quarter worth about $183,000. Commonwealth Bank of Australia increased its stake in shares of SEASPAN CORP/SH SH by 64.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 30,500 shares of the shipping company’s stock worth $299,000 after purchasing an additional 12,000 shares during the last quarter. Northern Trust Corp increased its stake in shares of SEASPAN CORP/SH SH by 17.2% during the 2nd quarter. Northern Trust Corp now owns 145,749 shares of the shipping company’s stock worth $1,430,000 after purchasing an additional 21,360 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of SEASPAN CORP/SH SH by 72.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,528,600 shares of the shipping company’s stock worth $14,996,000 after purchasing an additional 642,800 shares during the last quarter. Finally, Winslow Capital Management LLC grew its stake in SEASPAN CORP/SH SH by 8.8% in the 2nd quarter. Winslow Capital Management LLC now owns 173,500 shares of the shipping company’s stock valued at $1,702,000 after buying an additional 14,100 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

NYSE SSW opened at $10.00 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $10.01. SEASPAN CORP/SH SH has a twelve month low of $7.05 and a twelve month high of $10.70. The company has a market capitalization of $2.16 billion, a PE ratio of 8.20, a PEG ratio of 1.28 and a beta of 0.78.

SEASPAN CORP/SH SH (NYSE:SSW) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. SEASPAN CORP/SH SH had a net margin of 40.70% and a return on equity of 9.89%. The business had revenue of $275.42 million during the quarter, compared to analysts’ expectations of $277.26 million. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that SEASPAN CORP/SH SH will post 0.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 22nd were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Friday, July 19th. SEASPAN CORP/SH SH’s dividend payout ratio is 40.98%.

SEASPAN CORP/SH SH Company Profile

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.

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