Wall Street analysts expect SEASPAN CORP/SH SH (NYSE:SSW) to report $294.35 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for SEASPAN CORP/SH SH’s earnings. The lowest sales estimate is $293.30 million and the highest is $296.02 million. SEASPAN CORP/SH SH reported sales of $214.38 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.3%. The firm is expected to issue its next earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that SEASPAN CORP/SH SH will report full year sales of $1.10 billion for the current year, with estimates ranging from $1.09 billion to $1.10 billion. For the next financial year, analysts anticipate that the company will report sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for SEASPAN CORP/SH SH.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.11. SEASPAN CORP/SH SH had a return on equity of 7.89% and a net margin of 27.00%. The business had revenue of $294.98 million during the quarter, compared to analyst estimates of $292.96 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year.
A number of brokerages recently issued reports on SSW. Seaport Global Securities set a $12.00 price objective on SEASPAN CORP/SH SH and gave the stock a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research raised SEASPAN CORP/SH SH from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, November 20th. Wells Fargo & Co lowered SEASPAN CORP/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 price objective for the company. in a report on Friday, September 28th. ValuEngine lowered SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a report on Friday, September 21st. Finally, Deutsche Bank lowered SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.00 to $9.00 in a report on Wednesday, September 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.78.
SSW stock traded up $0.08 on Friday, reaching $9.48. The company’s stock had a trading volume of 730,037 shares, 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 firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.58 and a beta of 0.26. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.51.
Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its stake in SEASPAN CORP/SH SH by 92.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 21,200 shares of the shipping company’s stock valued at $216,000 after purchasing an additional 10,200 shares in the last quarter. Winslow Capital Management LLC bought a new position in SEASPAN CORP/SH SH during the 2nd quarter valued at $360,000. Bank of America Corp DE boosted its stake in SEASPAN CORP/SH SH by 1,373.5% during the 2nd quarter. Bank of America Corp DE now owns 652,592 shares of the shipping company’s stock valued at $6,643,000 after purchasing an additional 608,303 shares in the last quarter. Cue Financial Group Inc. boosted its stake in SEASPAN CORP/SH SH by 14.1% during the 3rd quarter. Cue Financial Group Inc. now owns 81,900 shares of the shipping company’s stock valued at $682,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new position in SEASPAN CORP/SH SH during the 2nd quarter valued at $122,000. 48.02% of the stock is owned by hedge funds and other institutional investors.
About SEASPAN CORP/SH SH
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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