JPMorgan Chase & Co. lifted its position in shares of Seaspan Co. (NYSE:SSW) by 76.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 318,452 shares of the shipping company’s stock after purchasing an additional 138,022 shares during the quarter. JPMorgan Chase & Co.’s holdings in Seaspan were worth $2,271,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SSW. Schwab Charles Investment Management Inc. purchased a new position in shares of Seaspan during the 2nd quarter valued at about $157,000. Wells Fargo & Company MN raised its holdings in shares of Seaspan by 3.9% during the 2nd quarter. Wells Fargo & Company MN now owns 36,101 shares of the shipping company’s stock valued at $258,000 after buying an additional 1,339 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Seaspan during the 2nd quarter valued at about $179,000. Vanguard Group Inc. raised its holdings in shares of Seaspan by 836.0% during the 2nd quarter. Vanguard Group Inc. now owns 210,751 shares of the shipping company’s stock valued at $1,505,000 after buying an additional 188,234 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Seaspan by 8.3% during the 2nd quarter. California Public Employees Retirement System now owns 206,400 shares of the shipping company’s stock valued at $1,474,000 after buying an additional 15,900 shares in the last quarter. 14.32% of the stock is currently owned by institutional investors.
Seaspan Co. (NYSE SSW) opened at $7.10 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $878.78, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.40 and a beta of 0.60. Seaspan Co. has a 12 month low of $5.02 and a 12 month high of $11.76.
Seaspan (NYSE:SSW) last announced its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The business had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $212.46 million. Seaspan had a return on equity of 7.14% and a net margin of 14.23%. During the same period in the previous year, the firm earned $0.29 EPS. equities analysts predict that Seaspan Co. will post 0.71 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Jefferies Group began coverage on Seaspan in a research note on Monday, December 18th. They issued a “buy” rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.21.
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Seaspan Company Profile
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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