SEASPAN CORP/SH SH (NYSE:SSW) Given Average Recommendation of “Hold” by Analysts

SEASPAN CORP/SH SH (NYSE:SSW) has earned a consensus rating of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.50.

A number of research analysts have recently commented on the company. BMO Capital Markets assumed coverage on SEASPAN CORP/SH SH in a research note on Wednesday. They set a “market perform” rating and a $10.50 target price on the stock. Jefferies Financial Group cut SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a research note on Thursday, May 9th. Finally, Zacks Investment Research cut SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSW. BlackRock Inc. grew its stake in SEASPAN CORP/SH SH by 30.4% in the fourth quarter. BlackRock Inc. now owns 3,088,699 shares of the shipping company’s stock worth $24,184,000 after purchasing an additional 719,762 shares in the last quarter. Norges Bank bought a new position in SEASPAN CORP/SH SH in the fourth quarter worth approximately $5,244,000. Renaissance Technologies LLC grew its stake in SEASPAN CORP/SH SH by 72.6% in the second quarter. Renaissance Technologies LLC now owns 1,528,600 shares of the shipping company’s stock worth $14,996,000 after purchasing an additional 642,800 shares in the last quarter. Private Management Group Inc. bought a new position in SEASPAN CORP/SH SH in the first quarter worth approximately $3,088,000. Finally, Nuveen Asset Management LLC bought a new position in SEASPAN CORP/SH SH in the second quarter worth approximately $3,322,000. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

SSW stock traded down $0.16 during midday trading on Friday, reaching $9.64. 4,711 shares of the company traded hands, compared to its average volume of 475,476. SEASPAN CORP/SH SH has a 52-week low of $7.05 and a 52-week high of $10.70. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $10.03. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 1.22 and a beta of 0.78.

SEASPAN CORP/SH SH (NYSE:SSW) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $275.42 million for the quarter, compared to analysts’ expectations of $277.26 million. SEASPAN CORP/SH SH had a return on equity of 9.89% and a net margin of 40.70%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts forecast that SEASPAN CORP/SH SH will post 0.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 22nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.19%. SEASPAN CORP/SH SH’s dividend payout ratio is 40.98%.

SEASPAN CORP/SH SH Company Profile

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.

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Analyst Recommendations for SEASPAN CORP/SH SH (NYSE:SSW)

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