Wall Street analysts forecast that Seaspan Co. (NYSE:SSW) will report $217.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Seaspan’s earnings. The highest sales estimate is $225.20 million and the lowest is $214.22 million. Seaspan reported sales of $213.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to report its next earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Seaspan will report full year sales of $217.56 million for the current year, with estimates ranging from $831.16 million to $842.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $900.85 million per share, with estimates ranging from $859.50 million to $927.96 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Seaspan.
Seaspan (NYSE:SSW) last posted its quarterly earnings data on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Seaspan had a net margin of 14.23% and a return on equity of 7.14%. The business had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $212.46 million. During the same quarter in the prior year, the business posted $0.29 earnings per share.
SSW has been the subject of several recent analyst reports. Jefferies Group initiated coverage on shares of 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 shares of Seaspan from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research cut shares of Seaspan from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $8.21.
Seaspan (NYSE SSW) traded down $0.01 on Friday, reaching $7.28. 1,499,946 shares of the company traded hands, compared to its average volume of 1,410,000. Seaspan has a 1-year low of $5.02 and a 1-year high of $11.76. 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 $901.06, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.45 and a beta of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Monday, January 22nd will be issued a $0.125 dividend. The ex-dividend date is Friday, January 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.87%. Seaspan’s dividend payout ratio (DPR) is currently 108.70%.
Hedge funds have recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Seaspan by 11,648.9% in the third quarter. Sei Investments Co. now owns 15,626 shares of the shipping company’s stock worth $111,000 after acquiring an additional 15,493 shares during the last quarter. NEXT Financial Group Inc bought a new position in shares of Seaspan in the third quarter worth about $143,000. Schwab Charles Investment Management Inc. bought a new position in shares of Seaspan in the second quarter worth about $157,000. First Allied Advisory Services Inc. lifted its holdings in shares of Seaspan by 42.4% in the second quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after acquiring an additional 7,366 shares during the last quarter. Finally, Shelton Capital Management bought a new position in shares of Seaspan in the second quarter worth about $179,000. 14.32% of the stock is owned by hedge funds and other institutional investors.
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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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