Wall Street analysts expect SEASPAN CORP/SH SH (NYSE:SSW) to post earnings per share (EPS) of $0.28 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for SEASPAN CORP/SH SH’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.31. SEASPAN CORP/SH SH reported earnings of $0.16 per share in the same quarter last year, which would indicate a positive year over year growth rate of 75%. The firm is expected to report its next earnings report on Tuesday, February 26th.
On average, analysts expect that SEASPAN CORP/SH SH will report full-year earnings of $1.04 per share for the current year, with EPS estimates ranging from $1.03 to $1.04. For the next financial year, analysts anticipate that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.69 to $1.26. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover SEASPAN CORP/SH SH.
SEASPAN CORP/SH SH (NYSE:SSW) last announced its quarterly earnings data on Tuesday, October 30th. The shipping company reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $292.96 million. During the same period in the prior year, the company earned $0.29 EPS. SEASPAN CORP/SH SH’s revenue for the quarter was up 39.8% on a year-over-year basis.
SSW has been the subject of several recent analyst reports. Zacks Investment Research upgraded SEASPAN CORP/SH SH from a “strong sell” rating to a “hold” rating in a research report on Friday, August 10th. Deutsche Bank downgraded SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $9.00 in a research report on Wednesday, September 19th. ValuEngine downgraded SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Wells Fargo & Co downgraded 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 research report on Friday, September 28th. Finally, Seaport Global Securities set a $12.00 price objective on SEASPAN CORP/SH SH and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.78.
Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its holdings in SEASPAN CORP/SH SH by 92.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 21,200 shares of the shipping company’s stock worth $216,000 after purchasing an additional 10,200 shares in the last quarter. Winslow Capital Management LLC acquired a new position in SEASPAN CORP/SH SH in the 2nd quarter worth about $360,000. Bank of America Corp DE increased its holdings in SEASPAN CORP/SH SH by 1,373.5% in the 2nd quarter. Bank of America Corp DE now owns 652,592 shares of the shipping company’s stock worth $6,643,000 after purchasing an additional 608,303 shares in the last quarter. Cue Financial Group Inc. increased its holdings in SEASPAN CORP/SH SH by 14.1% in the 3rd quarter. Cue Financial Group Inc. now owns 81,900 shares of the shipping company’s stock worth $682,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA acquired a new position in SEASPAN CORP/SH SH in the 2nd quarter worth about $122,000. 48.02% of the stock is owned by institutional investors and hedge funds.
Shares of SSW stock traded down $0.29 on Thursday, hitting $9.40. 1,150,900 shares of the company’s stock were exchanged, compared to its average volume of 1,245,862. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.42. SEASPAN CORP/SH SH has a 12 month low of $5.50 and a 12 month high of $10.72. The company has a market cap of $1.20 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.60 and a beta of 0.26.
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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