Analysts Expect SEASPAN CORP/SH SH (SSW) Will Announce Quarterly Sales of $294.65 Million

Wall Street analysts expect that SEASPAN CORP/SH SH (NYSE:SSW) will announce sales of $294.65 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for SEASPAN CORP/SH SH’s earnings, with estimates ranging from $293.30 million to $296.75 million. SEASPAN CORP/SH SH posted sales of $214.38 million in the same quarter last year, which suggests a positive year over year growth rate of 37.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that SEASPAN CORP/SH SH will report full year sales of $1.10 billion for the current financial year, with estimates ranging from $1.09 billion to $1.10 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for SEASPAN CORP/SH SH.

SEASPAN CORP/SH SH (NYSE:SSW) last released its earnings results on Tuesday, October 30th. The shipping company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.25 by $0.11. SEASPAN CORP/SH SH had a net margin of 27.00% and a return on equity of 7.89%. The business had revenue of $294.98 million during the quarter, compared to analyst estimates of $292.96 million. During the same period in the prior year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 39.8% on a year-over-year basis.

SSW has been the subject of several recent research reports. Zacks Investment Research raised shares of SEASPAN CORP/SH SH from a “strong sell” rating to a “hold” rating in a research note on Friday, August 10th. Deutsche Bank downgraded shares of SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.00 to $9.00 in a research report on Wednesday, September 19th. ValuEngine downgraded shares of SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Wells Fargo & Co downgraded shares of SEASPAN CORP/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 price target for the company. in a research report on Friday, September 28th. Finally, Seaport Global Securities set a $12.00 price target on shares of SEASPAN CORP/SH SH and gave the company a “buy” rating in a research report on Tuesday, November 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.78.

SSW stock traded down $0.03 on Friday, hitting $9.69. 3,955 shares of the company’s stock traded hands, compared to its average volume of 618,752. SEASPAN CORP/SH SH has a 1-year low of $5.50 and a 1-year high of $10.72. The firm has a market cap of $1.18 billion, a PE ratio of 14.68, a P/E/G ratio of 0.58 and a beta of 0.26. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.51.

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. lifted its position in shares of 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 valued at $216,000 after acquiring 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 valued at approximately $360,000. Bank of America Corp DE increased its stake 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 valued at $6,643,000 after buying an additional 608,303 shares during the period. Cue Financial Group Inc. increased its stake 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 valued at $682,000 after buying an additional 10,100 shares during the period. Finally, Security National Bank of Sioux City Iowa IA acquired a new position in SEASPAN CORP/SH SH in the 2nd quarter valued at approximately $122,000. Institutional investors and hedge funds own 48.02% of the company’s stock.

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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Earnings History and Estimates for SEASPAN CORP/SH SH (NYSE:SSW)

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