Seaspan (NYSE:SSW) had its price objective lifted by Bank of America from $6.00 to $6.20 in a report released on Thursday, March 15th. They currently have an underperform rating on the shipping company’s stock.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Seaspan from a buy rating to a hold rating in a report on Friday, February 2nd. Zacks Investment Research downgraded Seaspan from a hold rating to a sell rating in a research report on Saturday, January 6th. TheStreet upgraded Seaspan from a d+ rating to a c rating in a research report on Friday, March 2nd. Stifel Nicolaus restated a hold rating on shares of Seaspan in a research report on Thursday, March 15th. Finally, Seaport Global Securities upgraded Seaspan from a neutral rating to a buy rating and set a $10.00 target price for the company in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $8.67.
Seaspan stock traded down $0.06 during mid-day trading on Thursday, reaching $6.84. The stock had a trading volume of 916,649 shares, compared to its average volume of 2,294,574. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $846.60, a price-to-earnings ratio of 10.36, a PEG ratio of 0.28 and a beta of 0.52. Seaspan has a one year low of $5.02 and a one year high of $7.91.
Seaspan (NYSE:SSW) last issued its quarterly earnings data on Tuesday, February 27th. The shipping company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). Seaspan had a return on equity of 6.79% and a net margin of 21.08%. The business had revenue of $214.38 million during the quarter, compared to the consensus estimate of $217.56 million. During the same quarter last year, the company earned $0.21 EPS. equities analysts expect that Seaspan will post 1.17 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in SSW. Dimensional Fund Advisors LP lifted its holdings in Seaspan by 47.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,586,478 shares of the shipping company’s stock valued at $11,320,000 after acquiring an additional 513,707 shares during the period. Two Sigma Investments LP lifted its holdings in Seaspan by 2,436.0% in the fourth quarter. Two Sigma Investments LP now owns 507,432 shares of the shipping company’s stock valued at $3,425,000 after acquiring an additional 487,423 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new position in Seaspan in the fourth quarter valued at approximately $2,759,000. Schroder Investment Management Group purchased a new stake in shares of Seaspan in the fourth quarter valued at approximately $2,198,000. Finally, Two Sigma Advisers LP increased its position in shares of Seaspan by 760.2% in the fourth quarter. Two Sigma Advisers LP now owns 214,094 shares of the shipping company’s stock valued at $1,445,000 after buying an additional 189,205 shares in the last quarter. 15.64% of the stock is owned by institutional investors.
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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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