SEASPAN CORP/SH SH (NYSE:SSW) has received an average rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.29.
A number of equities research analysts recently weighed in on SSW shares. Wells Fargo & Co cut shares of SEASPAN CORP/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 price objective on the stock. in a research note on Friday, September 28th. Deutsche Bank cut shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and cut their price objective for the company from $13.00 to $9.00 in a research note on Wednesday, September 19th. ValuEngine cut shares of SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded shares of SEASPAN CORP/SH SH from a “strong sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Seaport Global Securities set a $12.00 price objective on shares of SEASPAN CORP/SH SH and gave the company a “buy” rating in a research note on Tuesday, November 20th.
Shares of NYSE SSW traded up $0.08 during midday trading on Monday, reaching $9.48. 730,037 shares of the company traded hands, compared to its average volume of 607,804. SEASPAN CORP/SH SH has a 52 week low of $5.50 and a 52 week high of $10.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.16 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.58 and a beta of 0.26.
SEASPAN CORP/SH SH (NYSE:SSW) last issued its quarterly earnings data on Tuesday, October 30th. The shipping company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.11. SEASPAN CORP/SH SH had a net margin of 27.00% and a return on equity of 7.89%. The business had revenue of $294.98 million for the quarter, compared to analysts’ expectations of $292.96 million. During the same period in the previous year, the business earned $0.29 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. On average, sell-side analysts anticipate that SEASPAN CORP/SH SH will post 1.04 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in SEASPAN CORP/SH SH by 60.4% during the third quarter. Vanguard Group Inc. now owns 396,052 shares of the shipping company’s stock worth $3,299,000 after acquiring an additional 149,096 shares during the period. Morgan Stanley increased its stake in SEASPAN CORP/SH SH by 8.5% in the 3rd quarter. Morgan Stanley now owns 1,484,269 shares of the shipping company’s stock worth $12,364,000 after purchasing an additional 115,796 shares in the last quarter. Legal & General Group Plc increased its stake in SEASPAN CORP/SH SH by 221.8% in the 3rd quarter. Legal & General Group Plc now owns 38,411 shares of the shipping company’s stock worth $320,000 after purchasing an additional 26,475 shares in the last quarter. Pecaut & CO. increased its stake in SEASPAN CORP/SH SH by 14.5% in the 3rd quarter. Pecaut & CO. now owns 396,700 shares of the shipping company’s stock worth $3,305,000 after purchasing an additional 50,300 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in SEASPAN CORP/SH SH by 85.7% in the 3rd quarter. Renaissance Technologies LLC now owns 260,500 shares of the shipping company’s stock worth $2,170,000 after purchasing an additional 120,200 shares in the last quarter. 48.02% of the stock is currently owned by hedge funds and other institutional investors.
SEASPAN CORP/SH SH Company Profile
Seaspan Corp. engages in the ownership and management of containerships. It deploys vessels on long-term, fixed-rate time charters, and high utilization rates that are typically associated with long-term time charters. The company was founded by Graham John Porter, Gerry Wang, and Kyle R. Washington on May 3, 2005 and is headquartered in Hong Kong.
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