Shares of Seaspan Co. (NYSE:SSW) have been given a consensus rating of “Hold” by the eleven research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.95.
SSW has been the subject of several recent analyst reports. Jefferies Group initiated coverage on Seaspan in a research report on Monday, December 18th. They set a “buy” rating and a $20.00 price objective for the company. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Seaport Global Securities raised Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, January 24th. Finally, Morgan Stanley upped their target price on Seaspan from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Monday, February 12th.
Shares of SSW stock traded down $0.05 on Wednesday, hitting $6.63. 526,584 shares of the company’s stock were exchanged, compared to its average volume of 1,708,906. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. Seaspan has a 12 month low of $5.02 and a 12 month high of $7.91. The company has a market cap of $826.80, a P/E ratio of 10.09, a P/E/G ratio of 0.27 and a beta of 0.51.
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 the consensus estimate of $0.20 by ($0.04). Seaspan had a return on equity of 6.79% and a net margin of 21.08%. The business had revenue of $214.38 million for the quarter, compared to the consensus estimate of $217.56 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. equities research analysts anticipate that Seaspan will post 1.17 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC increased its stake in shares of Seaspan by 6.0% in the fourth quarter. LPL Financial LLC now owns 133,063 shares of the shipping company’s stock valued at $898,000 after buying an additional 7,524 shares during the period. Wells Fargo & Company MN increased its stake in shares of Seaspan by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 47,289 shares of the shipping company’s stock valued at $319,000 after buying an additional 7,690 shares during the period. Macquarie Group Ltd. increased its stake in shares of Seaspan by 15.1% in the fourth quarter. Macquarie Group Ltd. now owns 61,900 shares of the shipping company’s stock valued at $418,000 after buying an additional 8,100 shares during the period. State Street Corp increased its stake in shares of Seaspan by 3.1% in the second quarter. State Street Corp now owns 279,189 shares of the shipping company’s stock valued at $1,994,000 after buying an additional 8,400 shares during the period. Finally, Advantage Investment Management LLC acquired a new stake in shares of Seaspan in the fourth quarter valued at about $103,000. 15.64% of the stock is owned by institutional investors and hedge funds.
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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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