Seaspan (NYSE:SSW) had its price objective hoisted by equities researchers at Bank of America from $6.00 to $6.20 in a report issued on Thursday. The firm presently has an “underperform” rating on the shipping company’s stock. Bank of America’s price target would suggest a potential downside of 9.62% from the company’s previous close.
Several other research firms also recently commented on SSW. Morgan Stanley upped their price objective on shares of Seaspan from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Monday, February 12th. TheStreet raised shares of Seaspan from a “d+” rating to a “c” rating in a report on Friday, March 2nd. Zacks Investment Research downgraded shares of Seaspan from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Seaport Global Securities raised shares of Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, January 24th. Finally, Jefferies Group initiated coverage on shares of Seaspan in a report on Monday, December 18th. They set a “buy” rating and a $20.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.74.
Seaspan (SSW) opened at $6.86 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $776.05, a PE ratio of 7.38, a P/E/G ratio of 0.54 and a beta of 0.62. Seaspan has a fifty-two week low of $5.02 and a fifty-two week high of $7.91.
Seaspan (NYSE:SSW) last released its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). The business had revenue of $214.38 million for the quarter, compared to analysts’ expectations of $217.56 million. Seaspan had a net margin of 21.08% and a return on equity of 6.79%. During the same period last year, the company earned $0.21 earnings per share. analysts predict that Seaspan will post 0.9 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in SSW. Advantage Investment Management LLC purchased a new stake in shares of Seaspan in the fourth quarter worth about $103,000. 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 buying an additional 15,493 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Seaspan in the third quarter worth about $143,000. GSA Capital Partners LLP purchased a new stake in shares of Seaspan in the third quarter worth about $220,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Seaspan in the third quarter worth about $221,000. 15.66% of the stock is currently 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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