Seaspan Corp. (SSW) Upgraded at Zacks Investment Research
Seaspan Corp. (NYSE:SSW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “
Separately, Clarkson Capital reaffirmed a “neutral” rating on shares of Seaspan Corp. in a report on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Seaspan Corp. presently has an average rating of “Hold” and a consensus price target of $16.00.
Seaspan Corp. (NYSE:SSW) opened at 13.25 on Thursday. Seaspan Corp. has a 52-week low of $13.16 and a 52-week high of $20.00. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.30 and a beta of 1.29. The firm has a 50-day moving average price of $13.99 and a 200 day moving average price of $15.38.
Seaspan Corp. (NYSE:SSW) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The company had revenue of $224.31 million for the quarter, compared to analysts’ expectations of $217.74 million. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities research analysts predict that Seaspan Corp. will post $1.23 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Seaspan Corp. during the second quarter valued at $140,000. First Allied Advisory Services Inc. boosted its position in Seaspan Corp. by 0.8% in the second quarter. First Allied Advisory Services Inc. now owns 10,456 shares of the company’s stock valued at $145,000 after buying an additional 79 shares in the last quarter. Stifel Financial Corp bought a new position in Seaspan Corp. during the second quarter valued at approximately $167,000. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Seaspan Corp. by 9.0% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 12,077 shares of the company’s stock valued at $169,000 after buying an additional 1,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Seaspan Corp. during the second quarter valued at approximately $178,000. Hedge funds and other institutional investors own 11.87% of the company’s stock.
About Seaspan Corp.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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