Zacks: Analysts Expect SEASPAN CORP/SH SH (NYSE:SSW) to Post $0.18 EPS

Wall Street analysts expect SEASPAN CORP/SH SH (NYSE:SSW) to post earnings of $0.18 per share for the current quarter, Zacks reports. Four analysts have made estimates for SEASPAN CORP/SH SH’s earnings. The highest EPS estimate is $0.22 and the lowest is $0.14. SEASPAN CORP/SH SH reported earnings of $0.31 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 41.9%. The firm is expected to report its next earnings results on Tuesday, March 3rd.

On average, analysts expect that SEASPAN CORP/SH SH will report full year earnings of $0.73 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.84. For the next fiscal year, analysts forecast that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.66 to $0.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover SEASPAN CORP/SH SH.

A number of brokerages have recently commented on SSW. ValuEngine raised shares of SEASPAN CORP/SH SH from a “sell” rating to a “hold” rating in a research report on Friday, October 11th. Zacks Investment Research raised shares of SEASPAN CORP/SH SH from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, October 9th. Finally, BMO Capital Markets began coverage on shares of SEASPAN CORP/SH SH in a research report on Wednesday, August 14th. They set a “market perform” rating and a $10.50 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.13.

NYSE SSW traded up $0.11 during trading on Thursday, hitting $10.99. The stock had a trading volume of 467,107 shares, compared to its average volume of 626,039. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 1.17 and a beta of 0.77. The stock has a 50 day simple moving average of $11.00 and a 200 day simple moving average of $10.26. SEASPAN CORP/SH SH has a one year low of $7.35 and a one year high of $11.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.86.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Monday, October 21st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Friday, October 18th. SEASPAN CORP/SH SH’s dividend payout ratio (DPR) is presently 40.98%.

Several large investors have recently modified their holdings of SSW. Renaissance Technologies LLC increased its position in shares of SEASPAN CORP/SH SH by 72.6% during the second quarter. Renaissance Technologies LLC now owns 1,528,600 shares of the shipping company’s stock worth $14,996,000 after acquiring an additional 642,800 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of SEASPAN CORP/SH SH during the second quarter worth approximately $3,322,000. BlackRock Inc. increased its position in shares of SEASPAN CORP/SH SH by 11.2% during the second quarter. BlackRock Inc. now owns 2,705,958 shares of the shipping company’s stock worth $26,545,000 after acquiring an additional 272,216 shares during the period. Kempen Capital Management N.V. increased its position in shares of SEASPAN CORP/SH SH by 26.0% during the second quarter. Kempen Capital Management N.V. now owns 962,813 shares of the shipping company’s stock worth $9,445,000 after acquiring an additional 198,689 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of SEASPAN CORP/SH SH by 20.6% during the second quarter. Wells Fargo & Company MN now owns 780,274 shares of the shipping company’s stock worth $7,656,000 after acquiring an additional 133,324 shares during the period. 46.80% of the stock is currently owned by institutional investors and hedge funds.

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

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